Sterling Investment Advisors Ltd. Has $2.19 Million Position in Cummins Inc. (NYSE:CMI)

Sterling Investment Advisors Ltd. cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,275 shares of the company’s stock after selling 340 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Cummins were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CMI. Global Trust Asset Management LLC grew its stake 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 acquiring an additional 28 shares during the period. KG&L Capital Management LLC grew its stake in Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the period. Massachusetts Wealth Management grew its stake in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the period. Avestar Capital LLC grew its stake in Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after acquiring an additional 31 shares during the period. Finally, Equitable Trust Co. grew its stake in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI opened at $360.44 on Tuesday. The firm has a market cap of $49.55 billion, a PE ratio of 12.80, a PEG ratio of 2.19 and a beta of 1.00. The stock’s fifty day moving average price is $361.38 and its two-hundred day moving average price is $342.85. 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 1 year low of $260.88 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the company posted $4.14 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. Cummins’s payout ratio is 25.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CMI shares. Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Finally, StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $386.67.

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.