Rodgers Brothers Inc. lowered its position in Cummins Inc. (NYSE:CMI) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,185 shares of the company’s stock after selling 450 shares during the period. Rodgers Brothers Inc.’s holdings in Cummins were worth $3,036,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Hall Laurie J Trustee grew its holdings in shares of Cummins by 841.7% in the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after acquiring an additional 2,020 shares during the period. Risk Paradigm Group LLC acquired a new stake in shares of Cummins in the 4th quarter worth approximately $127,000. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cummins in the 3rd quarter worth approximately $168,000. Krilogy Financial LLC acquired a new stake in shares of Cummins in the 3rd quarter worth approximately $168,000. Finally, EagleClaw Capital Managment LLC acquired a new stake in shares of Cummins in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 84.20% of the company’s stock.
A number of equities research analysts recently weighed in on CMI shares. Bank of America upgraded Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, January 19th. Morgan Stanley started coverage on Cummins in a report on Friday, March 2nd. They issued an “equal weight” rating and a $173.00 price target on the stock. Seaport Global Securities restated a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine lowered Cummins from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Cummins presently has a consensus rating of “Hold” and a consensus target price of $187.61.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. sell-side analysts expect that Cummins Inc. will post 12.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 72.61%.
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Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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