HUB Investment Partners LLC Has $445,000 Stock Position in Cummins Inc. (NYSE:CMI)

HUB Investment Partners LLC lessened its position in shares of Cummins Inc. (NYSE:CMI) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,276 shares of the company’s stock after selling 320 shares during the quarter. HUB Investment Partners LLC’s holdings in Cummins were worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CMI. Teacher Retirement System of Texas boosted its stake in shares of Cummins by 870.9% in the 4th quarter. Teacher Retirement System of Texas now owns 85,102 shares of the company’s stock valued at $29,667,000 after purchasing an additional 76,337 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Cummins in the fourth quarter valued at approximately $413,000. Vinva Investment Management Ltd boosted its stake in Cummins by 3.0% in the fourth quarter. Vinva Investment Management Ltd now owns 5,850 shares of the company’s stock valued at $2,038,000 after acquiring an additional 169 shares during the last quarter. North Forty Two & Co. bought a new stake in shares of Cummins during the 4th quarter valued at $503,000. Finally, Enhancing Capital LLC acquired a new position in shares of Cummins in the 4th quarter valued at $2,451,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

CMI stock opened at $321.78 on Friday. The stock has a 50-day moving average price of $355.99 and a two-hundred day moving average price of $347.12. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90. The stock has a market cap of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 (NYSE:CMI) last posted its quarterly earnings data 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 business had revenue of $8.45 billion during 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%. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $4.14 earnings per share. Equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $389.50.

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.