Cummins Inc. (NYSE:CMI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in Cummins Inc. (NYSE:CMI) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,115 shares of the company’s stock after selling 367 shares during the period. Los Angeles Capital Management LLC’s holdings in Cummins were worth $13,984,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Todd Asset Management LLC increased its stake in Cummins by 1.7% during the 4th quarter. Todd Asset Management LLC now owns 140,320 shares of the company’s stock valued at $48,916,000 after buying an additional 2,377 shares during the period. Amalgamated Bank increased its stake in Cummins by 3.0% during the 4th quarter. Amalgamated Bank now owns 30,208 shares of the company’s stock valued at $10,531,000 after buying an additional 872 shares during the period. FourThought Financial Partners LLC acquired a new position in Cummins during the 4th quarter valued at about $269,000. Bank of New York Mellon Corp increased its stake in Cummins by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company’s stock valued at $342,244,000 after buying an additional 120,579 shares during the period. Finally, Mengis Capital Management Inc. increased its stake in Cummins by 2.0% during the 4th quarter. Mengis Capital Management Inc. now owns 5,338 shares of the company’s stock valued at $1,861,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $360.91 on Wednesday. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The company has a 50-day moving average of $361.37 and a two-hundred day moving average of $343.32. The stock has a market cap of $49.62 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.19 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 0.80.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the company posted $4.14 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $386.67.

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.