Lindbrook Capital LLC Sells 150 Shares of Cummins Inc. (NYSE:CMI)

Lindbrook Capital LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 6.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,059 shares of the company’s stock after selling 150 shares during the period. Lindbrook Capital LLC’s holdings in Cummins were worth $718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mariner Investment Group LLC bought a new position in shares of Cummins during the 4th quarter worth approximately $1,046,000. Alpha DNA Investment Management LLC bought a new position in shares of Cummins during the 3rd quarter worth approximately $748,000. Franklin Resources Inc. lifted its position in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after buying an additional 99,464 shares during the period. Bank of Montreal Can lifted its position in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after buying an additional 68,627 shares during the period. Finally, Hancock Whitney Corp lifted its position in shares of Cummins by 545.1% during the 3rd quarter. Hancock Whitney Corp now owns 38,630 shares of the company’s stock worth $12,508,000 after buying an additional 32,642 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.8 %

NYSE CMI opened at $344.49 on Friday. The stock has a fifty day moving average of $361.95 and a 200-day moving average of $345.63. The stock has a market capitalization of $47.36 billion, a P/E ratio of 12.23, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.11%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMI. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus target price of $386.67.

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.