Rogco LP Has $409,000 Stock Position in Cummins Inc. (NYSE:CMI)

Rogco LP lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,172 shares of the company’s stock after selling 310 shares during the period. Rogco LP’s holdings in Cummins were worth $409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. PFG Investments LLC grew its holdings in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares in the last quarter. Mariner Investment Group LLC purchased a new position in Cummins during the 4th quarter valued at about $1,046,000. Alpha DNA Investment Management LLC acquired a new position in shares of Cummins in the 3rd quarter valued at about $748,000. Franklin Resources Inc. lifted its position in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Cummins by 21.2% during the third quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after purchasing an additional 68,627 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the topic of several research reports. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $383.08.

Cummins Stock Up 1.2 %

CMI stock opened at $373.71 on Monday. The stock has a market capitalization of $51.27 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a 50-day moving average of $361.09 and a two-hundred day moving average of $339.06. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.14 EPS. As a group, equities research analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

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.