Bank of Stockton Lowers Stake in Cummins Inc. (NYSE:CMI)

Bank of Stockton lowered its position in shares of Cummins Inc. (NYSE:CMI) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,643 shares of the company’s stock after selling 29 shares during the quarter. Cummins accounts for about 0.7% of Bank of Stockton’s investment portfolio, making the stock its 27th largest position. Bank of Stockton’s holdings in Cummins were worth $2,316,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its position in shares of 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 acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter worth $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins during the third quarter worth $32,000. Kestra Investment Management LLC bought a new position in shares of Cummins during the fourth quarter worth $43,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Cummins during the third quarter worth $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMI. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Trading Down 0.3 %

Shares of CMI opened at $384.73 on Friday. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. The company has a market cap of $52.89 billion, a P/E ratio of 13.66, a P/E/G ratio of 2.20 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $361.52 and its 200-day simple moving average is $341.12.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating 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 business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the firm posted $4.14 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 22.57 EPS for the current 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 1.89%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

About Cummins

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.