Earnest Partners LLC Reduces Stock Position in Cummins Inc. (NYSE:CMI)

Earnest Partners LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 303,636 shares of the company's stock after selling 14,484 shares during the quarter. Earnest Partners LLC owned approximately 0.22% of Cummins worth $105,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Resource Group lifted its stake in Cummins by 1.0% in the 3rd quarter. Advisory Resource Group now owns 15,328 shares of the company's stock worth $4,963,000 after purchasing an additional 155 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Cummins by 3.9% in the 3rd quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company's stock worth $1,727,000 after purchasing an additional 202 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Cummins by 1.8% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company's stock worth $1,648,000 after purchasing an additional 88 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in Cummins in the 3rd quarter worth $209,000. Finally, Wilmington Savings Fund Society FSB lifted its stake in Cummins by 18.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,990 shares of the company's stock worth $1,616,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of research reports. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Citigroup reduced their target price on shares of Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Robert W. Baird cut their price target on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cummins has a consensus rating of "Hold" and an average target price of $346.00.

Cummins Stock Up 0.4 %

Shares of CMI stock traded up $1.18 during trading hours on Wednesday, reaching $294.34. 783,209 shares of the stock were exchanged, compared to its average volume of 808,086. The business's fifty day moving average is $314.45 and its two-hundred day moving average is $343.25. 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 12-month low of $260.02 and a 12-month high of $387.90. The firm has a market capitalization of $40.54 billion, a P/E ratio of 10.45, a P/E/G ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.14 earnings per share. As a group, research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.47%. Cummins's payout ratio is 25.84%.

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.