Metis Global Partners LLC Has $2.74 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Metis Global Partners LLC lessened its position in shares of Cummins Inc. (NYSE:CMI) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,866 shares of the company’s stock after selling 436 shares during the quarter. Metis Global Partners LLC’s holdings in Cummins were worth $2,742,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in Cummins by 2.0% in the third quarter. US Bancorp DE now owns 75,919 shares of the company’s stock valued at $24,582,000 after buying an additional 1,496 shares during the period. Stephens Inc. AR lifted its stake in Cummins by 12.9% in the third quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock valued at $405,000 after buying an additional 143 shares during the period. Gladstone Institutional Advisory LLC lifted its stake in Cummins by 8.0% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,392 shares of the company’s stock valued at $451,000 after buying an additional 103 shares during the period. Americana Partners LLC lifted its stake in Cummins by 158.9% in the third quarter. Americana Partners LLC now owns 2,532 shares of the company’s stock valued at $820,000 after buying an additional 1,554 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Cummins by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 2,467 shares of the company’s stock valued at $799,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.0 %

NYSE:CMI opened at $367.90 on Friday. 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 company has a market cap of $50.58 billion, a PE ratio of 13.06, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90. The stock has a 50-day simple moving average of $362.32 and a 200 day simple moving average of $344.54.

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. On average, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. Cummins’s payout ratio is presently 25.84%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMI. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird increased their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $386.67.

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.