Mcdonald Partners LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

Mcdonald Partners LLC acquired a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,770 shares of the company’s stock, valued at approximately $617,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after acquiring an additional 2,523,854 shares during the period. FMR LLC lifted its stake in shares of Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after acquiring an additional 9,245 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.5 %

NYSE CMI opened at $379.21 on Wednesday. The firm has a market cap of $52.02 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The stock’s 50-day moving average is $360.92 and its 200-day moving average is $340.50. Cummins Inc. has a one year low of $259.06 and a one year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.14 earnings per share. Sell-side analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Analysts Set New Price Targets

CMI has been the topic of several research reports. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $383.08.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.