Cullen Frost Bankers Inc. Has $23.90 Million Position in Cummins Inc. (NYSE:CMI)

Cullen Frost Bankers Inc. boosted its holdings in Cummins Inc. (NYSE:CMI) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,571 shares of the company’s stock after purchasing an additional 73 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cummins were worth $23,904,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC grew its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department acquired a new stake in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new stake in Cummins in the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in Cummins in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CMI. Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” 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 objective on the stock. in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $386.67.

Cummins Trading Down 0.1 %

NYSE CMI opened at $347.00 on Thursday. The stock has a market capitalization of $47.71 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The business’s fifty day moving average is $362.15 and its 200-day moving average is $345.63.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.14 EPS. Equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend 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.