Rowlandmiller & PARTNERS.ADV Trims Holdings in Cummins Inc. (NYSE:CMI)

Rowlandmiller & PARTNERS.ADV decreased its position in shares of Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,025 shares of the company’s stock after selling 63 shares during the period. Cummins comprises about 1.8% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its 17th largest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Cummins were worth $8,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Colonial River Investments LLC grew its holdings in shares of Cummins by 6.9% during the 4th quarter. Colonial River Investments LLC now owns 1,974 shares of the company’s stock worth $688,000 after acquiring an additional 127 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Cummins during the 4th quarter worth approximately $2,533,000. Black Diamond Financial LLC purchased a new position in shares of Cummins during the 4th quarter worth approximately $237,000. Union Bancaire Privee UBP SA purchased a new position in shares of Cummins during the 4th quarter worth approximately $6,284,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Cummins by 4.2% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,370 shares of the company’s stock worth $13,724,000 after acquiring an additional 1,600 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CMI. Robert W. Baird upped their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $386.67.

Cummins Stock Performance

CMI stock opened at $366.79 on Monday. The stock has a market capitalization of $50.43 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 12-month low of $259.06 and a 12-month 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. The stock’s 50 day simple moving average is $361.51 and its 200 day simple moving average is $342.40.

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

Cummins Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. Cummins’s dividend payout ratio (DPR) is currently 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.