HighTower Advisors LLC Cuts Holdings in Cummins Inc. (NYSE:CMI)

HighTower Advisors LLC reduced its position in Cummins Inc. (NYSE:CMI) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 496,124 shares of the company’s stock after selling 501 shares during the quarter. HighTower Advisors LLC’s holdings in Cummins were worth $172,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. KG&L Capital Management LLC lifted its holdings in shares of Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management boosted its position in shares of Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares during the period. Avestar Capital LLC grew its holdings in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after buying an additional 31 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in Cummins by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock worth $568,000 after acquiring an additional 32 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CMI. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Barclays upped their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Evercore ISI upped their price target 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. Finally, Robert W. Baird boosted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Down 1.5 %

CMI opened at $329.21 on Wednesday. The business has a 50 day moving average price of $361.09 and a 200 day moving average price of $346.86. Cummins Inc. has a twelve month low of $260.88 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $45.26 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its 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 return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the company earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.21%. Cummins’s dividend payout ratio (DPR) is presently 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.