Cummins Inc. (NYSE:CMI) Shares Sold by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,308 shares of the company’s stock after selling 2,623 shares during the quarter. Cummins makes up about 3.4% of Morgan Dempsey Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Morgan Dempsey Capital Management LLC’s holdings in Cummins were worth $8,474,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after buying an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Cummins by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock valued at $1,071,059,000 after buying an additional 66,887 shares during the last quarter. FMR LLC lifted its stake in Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after buying an additional 9,245 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cummins by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company’s stock valued at $342,244,000 after buying an additional 120,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cummins by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 866,715 shares of the company’s stock valued at $280,634,000 after buying an additional 6,608 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.0 %

Shares of CMI opened at $367.90 on Friday. The business’s 50-day moving average price is $362.32 and its 200 day moving average price is $344.54. The stock has a market capitalization of $50.58 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 1-year low of $260.88 and a 1-year 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.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share 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 firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. Analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMI. The Goldman Sachs Group lifted their price objective 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. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Robert W. Baird lifted 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. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $386.67.

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.