Cummins Inc. (NYSE:CMI) Stock Holdings Decreased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich lowered its stake in Cummins Inc. (NYSE:CMI) by 77.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 512 shares of the company’s stock after selling 1,772 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cummins were worth $123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Balentine LLC boosted its holdings in shares of Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after buying an additional 127 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after buying an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of Cummins in the 3rd quarter valued at about $9,048,000. Capital Advisors Inc. OK acquired a new position in shares of Cummins in the 4th quarter valued at about $24,915,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after buying an additional 16,869 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.2 %

Shares of NYSE:CMI opened at $291.14 on Monday. The company has a 50 day moving average of $283.34 and a 200-day moving average of $250.92. The firm has a market cap of $39.82 billion, a P/E ratio of 56.20, a P/E/G ratio of 1.98 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.52 earnings per share. As a group, analysts anticipate that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. Cummins’s payout ratio is currently 129.73%.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cummins news, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the acquisition, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares in the company, valued at $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CMI shares. Citigroup lifted their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, February 12th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Finally, UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $279.70.

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.