Unison Advisors LLC Grows Holdings in Cummins Inc. (NYSE:CMI)

Unison Advisors LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,109 shares of the company’s stock after purchasing an additional 52 shares during the period. Unison Advisors LLC’s holdings in Cummins were worth $3,873,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CMI. Vanguard Group Inc. increased its position in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after acquiring an additional 250,650 shares during the period. State Street Corp raised its stake in shares of Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cummins by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock worth $1,174,504,000 after purchasing an additional 84,112 shares during the period. Fisher Asset Management LLC grew its position in Cummins by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock valued at $1,071,059,000 after buying an additional 66,887 shares during the last quarter. Finally, Norges Bank acquired a new position in Cummins in the 4th quarter valued at $499,490,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE CMI opened at $295.96 on Friday. The company’s 50-day moving average price is $347.69 and its 200 day moving average price is $348.43. The stock has a market cap of $40.69 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. 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 (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMI shares. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Citigroup reduced their target price on Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $383.67.

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.