Aurora Investment Counsel Reduces Holdings in Cummins Inc. (NYSE:CMI)

Aurora Investment Counsel trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 44.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,283 shares of the company’s stock after selling 2,651 shares during the quarter. Aurora Investment Counsel’s holdings in Cummins were worth $1,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its position in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department bought a new position in Cummins in the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new position in Cummins during the fourth quarter valued at $27,000. SBI Securities Co. Ltd. bought a new stake in Cummins during the fourth quarter valued at about $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in Cummins in the third quarter worth about $32,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE:CMI opened at $312.65 on Friday. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The stock’s 50 day simple moving average is $360.03 and its two-hundred day simple moving average is $346.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping 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 company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the previous year, the business posted $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared 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 2.33%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

Several research analysts have recently commented on CMI shares. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Evercore ISI raised their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Barclays raised their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cummins 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.