BI Asset Management Fondsmaeglerselskab A S Sells 1,876 Shares of Cummins Inc. (NYSE:CMI)

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Cummins Inc. (NYSE:CMI) by 13.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,742 shares of the company’s stock after selling 1,876 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cummins were worth $4,093,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Advisory Resource Group grew its stake in Cummins by 1.0% in the third quarter. Advisory Resource Group now owns 15,328 shares of the company’s stock valued at $4,963,000 after acquiring an additional 155 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Cummins by 3.9% in the third quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company’s stock valued at $1,727,000 after buying an additional 202 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in shares of Cummins by 1.8% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company’s stock worth $1,648,000 after acquiring an additional 88 shares during the period. Pine Valley Investments Ltd Liability Co bought a new stake in Cummins in the 3rd quarter valued at $209,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in Cummins by 18.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,990 shares of the company’s stock worth $1,616,000 after purchasing an additional 794 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Morgan Stanley reduced their price target on Cummins from $425.00 to $340.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Evercore ISI raised their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Citigroup cut their price objective on shares of Cummins from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird lowered their price target on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average target price of $346.00.

Cummins Stock Up 0.3 %

CMI opened at $281.37 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a fifty day moving average of $326.83 and a 200-day moving average of $345.52. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The company has a market capitalization of $38.76 billion, a P/E ratio of 9.99, a P/E/G ratio of 2.19 and a beta of 1.07.

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

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

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.