Cummins Inc. (NYSE:CMI) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 757 shares of the company’s stock after selling 77 shares during the period. Angeles Investment Advisors LLC’s holdings in Cummins were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Global Trust Asset Management LLC boosted its position 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 purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc purchased a new position in Cummins in the 4th quarter valued at $27,000. TCTC Holdings LLC acquired a new stake in Cummins during the 4th quarter worth $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Cummins during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $321.78 on Monday. The firm has a 50-day simple moving average of $355.99 and a two-hundred day simple moving average of $347.73. The stock has a market cap 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 1-year low of $261.51 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the firm posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMI. UBS Group decreased their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Bank of America upgraded 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 report on Tuesday, January 14th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays boosted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and five have assigned 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 target price of $389.50.

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.