Alyeska Investment Group L.P. Sells 1,292 Shares of Cummins Inc. (NYSE:CMI)

Alyeska Investment Group L.P. decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 38.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,081 shares of the company's stock after selling 1,292 shares during the period. Alyeska Investment Group L.P.'s holdings in Cummins were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mariner Investment Group LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $1,046,000. FMR LLC raised its holdings in Cummins by 5.7% in the 4th quarter. FMR LLC now owns 1,242,362 shares of the company's stock worth $433,087,000 after purchasing an additional 67,266 shares during the period. Fayez Sarofim & Co lifted its stake in shares of Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock valued at $2,857,000 after buying an additional 3,440 shares in the last quarter. National Bank of Canada FI increased its stake in Cummins by 4.2% in the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after buying an additional 3,298 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after acquiring an additional 99,464 shares during the period. Institutional investors own 83.46% of the company's stock.

Cummins Price Performance

NYSE CMI traded up $18.29 on Monday, reaching $325.00. 259,886 shares of the stock traded hands, compared to its average volume of 805,275. The firm's fifty day simple moving average is $304.66 and its 200 day simple moving average is $341.45. The company has a market cap of $44.77 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 2.19 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period in the previous year, the business earned $5.08 EPS. The company's revenue was down 2.7% on a year-over-year basis. As a group, research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.24%. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Citigroup reduced their price target on Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and lowered their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Cummins presently has a consensus rating of "Hold" and a consensus target price of $352.33.

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.