Beutel Goodman & Co Ltd. Sells 20,569 Shares of Cummins Inc. (NYSE:CMI)

Beutel Goodman & Co Ltd. reduced its position in shares of Cummins Inc. (NYSE:CMI) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 604,663 shares of the company’s stock after selling 20,569 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.44% of Cummins worth $210,785,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the fourth quarter worth approximately $27,000. TCTC Holdings LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins during the fourth quarter valued at approximately $30,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. UBS Group cut their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Trading Down 3.1 %

NYSE CMI opened at $313.45 on Friday. The company has a market capitalization of $43.09 billion, a PE ratio of 11.13, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a fifty day moving average of $352.17 and a 200 day moving average of $348.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $4.14 earnings per share. Research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.