Noesis Capital Mangement Corp Buys 125 Shares of Cummins Inc. (NYSE:CMI)

Noesis Capital Mangement Corp increased its stake in Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,948 shares of the company’s stock after purchasing an additional 125 shares during the quarter. Cummins makes up approximately 2.4% of Noesis Capital Mangement Corp’s portfolio, making the stock its 17th biggest holding. Noesis Capital Mangement Corp’s holdings in Cummins were worth $12,531,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the period. Fisher Asset Management LLC raised its holdings in Cummins by 5.8% during the 3rd 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. FMR LLC raised its holdings in Cummins by 0.8% during the 3rd 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. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 120,579 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cummins by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 866,715 shares of the company’s stock valued at $280,634,000 after acquiring an additional 6,608 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.0 %

Shares of NYSE:CMI opened at $367.90 on Friday. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90. The firm has a fifty day moving average of $362.32 and a 200 day moving average of $344.17. The firm has a market capitalization of $50.58 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. 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 (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the business posted $4.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMI shares. Evercore ISI boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays boosted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. 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 report on Tuesday, January 14th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $386.67.

Cummins Company 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.