Keybank National Association OH Has $44.20 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Keybank National Association OH cut its stake in Cummins Inc. (NYSE:CMI) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,778 shares of the company’s stock after selling 2,106 shares during the period. Keybank National Association OH owned approximately 0.09% of Cummins worth $44,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of Cummins by 12.9% during the 3rd quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock worth $405,000 after buying an additional 143 shares in the last quarter. Gladstone Institutional Advisory LLC grew its position in Cummins by 8.0% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,392 shares of the company’s stock worth $451,000 after acquiring an additional 103 shares during the last quarter. Farther Finance Advisors LLC grew its position in Cummins by 13.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,467 shares of the company’s stock worth $799,000 after acquiring an additional 288 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Cummins by 17.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,078 shares of the company’s stock worth $356,000 after acquiring an additional 159 shares during the last quarter. Finally, Optas LLC bought a new stake in Cummins during the 3rd quarter worth $216,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 3.4 %

Shares of NYSE:CMI opened at $355.81 on Tuesday. The stock has a 50 day moving average of $362.41 and a 200 day moving average of $345.30. The company has a market cap of $48.92 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.06 billion. During the same period in the prior year, the firm earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. Cummins’s payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMI. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Jefferies Financial Group upped their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $386.67.

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.