Associated Banc Corp Has $17.33 Million Position in Cummins Inc. (NYSE:CMI)

Associated Banc Corp reduced its position in shares of Cummins Inc. (NYSE:CMI) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,709 shares of the company’s stock after selling 1,317 shares during the period. Associated Banc Corp’s holdings in Cummins were worth $17,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Global Trust Asset Management LLC lifted 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 stake in shares of Cummins during the 4th quarter valued at $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new stake in shares of Cummins during the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter valued at $32,000. 83.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CMI shares. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Friday. Evercore ISI boosted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Trading Up 3.0 %

Shares of CMI stock opened at $322.24 on Friday. The stock has a market cap of $44.30 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. The stock has a 50-day moving average of $359.39 and a 200-day moving average of $346.59. 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 1-year low of $261.51 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.14 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

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

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.