V Square Quantitative Management LLC Trims Stock Position in Cummins Inc. (NYSE:CMI)

V Square Quantitative Management LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,194 shares of the company’s stock after selling 106 shares during the quarter. V Square Quantitative Management LLC’s holdings in Cummins were worth $1,113,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new position in Cummins during the fourth quarter valued at $27,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins in the third quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the third quarter worth about $55,000. Finally, Friedenthal Financial acquired a new position in shares of Cummins in the fourth quarter worth about $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMI has been the subject of a number of research reports. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Barclays boosted their target price 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. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $383.08.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.56% of the company’s stock.

Cummins Trading Up 1.2 %

NYSE CMI opened at $373.71 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The firm’s fifty day moving average price is $361.20 and its 200 day moving average price is $338.14. The company has a market capitalization of $51.38 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90.

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

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 21st. 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.