Financial Counselors Inc. Sells 2,112 Shares of Cummins Inc. (NYSE:CMI)

Financial Counselors Inc. decreased its position in shares of Cummins Inc. (NYSE:CMI) by 62.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,281 shares of the company’s stock after selling 2,112 shares during the quarter. Financial Counselors Inc.’s holdings in Cummins were worth $447,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Cummins during the fourth quarter worth $187,082,000. Vanguard Group Inc. raised its stake in Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock worth $5,912,830,000 after buying an additional 250,650 shares during the period. Proficio Capital Partners LLC acquired a new stake in Cummins during the 4th quarter worth $71,279,000. Amundi lifted its holdings in Cummins by 32.3% during the fourth quarter. Amundi now owns 771,038 shares of the company’s stock worth $277,381,000 after acquiring an additional 188,254 shares in the last quarter. Finally, State Street Corp grew its stake in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. UBS Group lowered their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $389.50.

Cummins Stock Performance

Shares of NYSE CMI opened at $313.45 on Friday. The stock has a market capitalization of $43.09 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The stock has a 50 day moving average price of $352.17 and a 200 day moving average price of $348.05. 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) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company 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 firm posted $4.14 EPS. Analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal 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 issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.32%. Cummins’s payout ratio is 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.