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

HUB Investment Partners LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Cummins in the 4th quarter valued at about $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the 4th quarter valued at about $27,000. TCTC Holdings LLC bought a new position in Cummins during the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins during the fourth quarter worth approximately $30,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CMI shares. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. 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 report on Wednesday, February 5th. 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. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised their price objective 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. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $389.50.

Cummins Price Performance

Shares of NYSE CMI opened at $321.78 on Friday. The business has a fifty day moving average price of $355.99 and a two-hundred day moving average price of $347.12. The stock has a market capitalization of $44.24 billion, a PE ratio of 11.42, a P/E/G ratio of 2.19 and a beta of 1.01. 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 Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.14 earnings per share. As a group, equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. 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 dividend payout ratio is 25.84%.

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.