Grantham Mayo Van Otterloo & Co. LLC Sells 307 Shares of Cummins Inc. (NYSE:CMI)

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 97,870 shares of the company’s stock after selling 307 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Cummins were worth $34,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CMI. Mariner Investment Group LLC bought a new position in Cummins in the fourth quarter valued at approximately $1,046,000. Franklin Resources Inc. boosted its holdings in shares of Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Cummins by 133.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,798 shares of the company’s stock valued at $2,021,000 after buying an additional 3,314 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in Cummins by 296.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock worth $4,128,000 after buying an additional 8,851 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Cummins by 2.0% during the fourth quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock worth $38,481,000 after acquiring an additional 2,211 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 5.9 %

NYSE CMI opened at $277.82 on Friday. The company has a market cap of $38.19 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $345.89 and a 200-day moving average of $348.60.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the company posted $4.14 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

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 2.62%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

Wall Street Analyst Weigh In

CMI has been the topic of several recent analyst reports. UBS Group lowered their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Barclays boosted their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $383.67.

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.