Bokf Na Has $1.57 Million Stake in Cummins Inc. (NYSE:CMI)

Bokf Na lessened its position in shares of Cummins Inc. (NYSE:CMI) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,415 shares of the company’s stock after selling 117 shares during the period. Bokf Na’s holdings in Cummins were worth $1,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Captrust Financial Advisors raised its position in Cummins by 4.5% in the 4th quarter. Captrust Financial Advisors now owns 53,236 shares of the company’s stock valued at $18,558,000 after buying an additional 2,285 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $322,000. Brown Advisory Inc. lifted its position in shares of Cummins by 3.2% in the fourth quarter. Brown Advisory Inc. now owns 187,144 shares of the company’s stock worth $65,239,000 after purchasing an additional 5,787 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Cummins by 5,553.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 134,052 shares of the company’s stock worth $46,731,000 after purchasing an additional 131,681 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in Cummins by 2.6% in the fourth quarter. Benjamin Edwards Inc. now owns 34,584 shares of the company’s stock valued at $12,080,000 after purchasing an additional 861 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent research reports. UBS Group downgraded shares of Cummins from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their price target on Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Evercore ISI increased their price target 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $347.69.

Cummins Stock Performance

Shares of NYSE CMI opened at $306.55 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 2.19 and a beta of 1.02. The stock’s fifty day moving average price is $305.47 and its two-hundred day moving average price is $341.48. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $5.08 earnings per share. On average, equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is currently 36.22%.

About Cummins

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.