Kendall Capital Management Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

Kendall Capital Management reduced its position in shares of Cummins Inc. (NYSE:CMI) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,632 shares of the company’s stock after selling 70 shares during the period. Kendall Capital Management’s holdings in Cummins were worth $2,661,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CMI. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the period. KG&L Capital Management LLC lifted its stake in Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares during the period. Massachusetts Wealth Management boosted its holdings in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares in the last quarter. Avestar Capital LLC increased its position in Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after purchasing an additional 31 shares during the period. Finally, Equitable Trust Co. raised its holdings in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 0.8 %

Shares of CMI stock opened at $341.97 on Friday. 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. The stock has a market capitalization of $47.01 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50 day moving average is $361.77 and its 200 day moving average is $346.22.

Cummins (NYSE:CMI) last released its quarterly 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 firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business posted $4.14 EPS. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

Several brokerages recently issued reports on CMI. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. 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. Finally, Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $386.67.

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.