Cummins Inc. (NYSE:CMI) Stock Position Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in Cummins Inc. (NYSE:CMI) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,239 shares of the company’s stock after selling 1,493 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Cummins worth $25,183,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its position in Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after purchasing an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its position in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. FMR LLC lifted its position in Cummins by 0.8% in the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Up 1.2 %

Cummins stock opened at $373.71 on Friday. The firm has a market cap of $51.38 billion, a PE ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. The firm’s 50 day moving average price is $361.20 and its two-hundred day moving average price is $338.14. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 earnings per share. On average, research analysts predict that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Analysts Set New Price Targets

Several analysts recently weighed in on CMI shares. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird boosted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research 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 an average rating of “Hold” and an average target price of $383.08.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by insiders.

Cummins Company 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.