Lido Advisors LLC Raises Stock Position in Cummins Inc. (NYSE:CMI)

Lido Advisors LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,494 shares of the company’s stock after acquiring an additional 597 shares during the quarter. Lido Advisors LLC’s holdings in Cummins were worth $5,053,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Cummins in the 4th quarter valued at $499,490,000. Raymond James Financial Inc. purchased a new position in Cummins in the 4th quarter valued at about $187,082,000. Vanguard Group Inc. lifted its holdings in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after purchasing an additional 250,650 shares in the last quarter. Northern Trust Corp grew its holdings in Cummins by 15.1% in the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock valued at $656,418,000 after purchasing an additional 246,807 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Cummins by 57.0% during the 4th quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company’s stock valued at $224,317,000 after buying an additional 233,694 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on CMI shares. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and cut their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Citigroup lowered their price objective on shares of Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $346.00.

Cummins Stock Down 0.4 %

CMI opened at $293.07 on Wednesday. The stock’s fifty day moving average is $314.45 and its 200-day moving average is $343.25. The company has a market capitalization of $40.37 billion, a PE ratio of 10.40, a P/E/G ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its 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. 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 for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.14 earnings per share. On average, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 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.