Brown Advisory Inc. Raises Stake in Cummins Inc. (NYSE:CMI)

Brown Advisory Inc. grew its position in Cummins Inc. (NYSE:CMI - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,144 shares of the company's stock after buying an additional 5,787 shares during the period. Brown Advisory Inc. owned 0.14% of Cummins worth $65,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMI. Global Trust Asset Management LLC raised its position in Cummins by 59.6% in the fourth 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 purchased a new stake in Cummins in the 4th quarter valued at about $26,000. Compass Financial Services Inc purchased a new position in Cummins during the fourth quarter worth about $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC acquired a new position in Cummins during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Performance

Cummins stock traded up $0.40 during midday trading on Friday, hitting $306.81. 512,986 shares of the company's stock were exchanged, compared to its average volume of 806,662. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90. The stock has a market cap of $42.26 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The firm's 50 day simple moving average is $305.47 and its 200 day simple moving average is $341.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same period in the prior year, the business earned $5.08 EPS. The firm's revenue was down 2.7% compared to the same quarter last year. 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.37%. Cummins's dividend payout ratio is currently 36.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMI shares. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Robert W. Baird decreased their price objective on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and dropped their target price for the company from $400.00 to $240.00 in a report on Monday, April 7th. Finally, Morgan Stanley upped their price objective on Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $347.69.

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.