7,314 Shares in Cummins Inc. (NYSE:CMI) Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG purchased a new position in Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,314 shares of the company's stock, valued at approximately $2,550,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Resource Group increased its position in shares of Cummins by 1.0% during the 3rd quarter. Advisory Resource Group now owns 15,328 shares of the company's stock valued at $4,963,000 after purchasing an additional 155 shares during the period. SkyView Investment Advisors LLC increased its position in shares of Cummins by 3.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company's stock valued at $1,727,000 after purchasing an additional 202 shares during the period. Stock Yards Bank & Trust Co. increased its position in shares of Cummins by 1.8% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company's stock valued at $1,648,000 after purchasing an additional 88 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Cummins during the 3rd quarter valued at $209,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of 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 acquiring an additional 794 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird reduced their price target 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. Citigroup reduced their price target on shares of 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 raised shares of Cummins from an "underperform" rating to a "neutral" rating and increased their price target for the stock 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 reduced their price target for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cummins has an average rating of "Hold" and an average price target of $346.00.

Cummins Stock Performance

Shares of CMI stock traded down $0.40 during midday trading on Friday, hitting $293.56. 576,426 shares of the company were exchanged, compared to its average volume of 807,069. The firm has a market capitalization of $40.44 billion, a P/E ratio of 10.42, a PEG ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm's 50 day moving average price is $318.12 and its two-hundred day moving average price is $343.89. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90.

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

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio 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.