Cummins Inc. (NYSE:CMI) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 791 shares of the company’s stock after selling 93 shares during the period. Krane Funds Advisors LLC’s holdings in Cummins were worth $276,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Cummins during the 4th quarter worth approximately $499,490,000. Raymond James Financial Inc. purchased a new stake in Cummins during the 4th quarter worth about $187,082,000. Vanguard Group Inc. boosted its stake in shares of Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after buying an additional 250,650 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Cummins during the fourth quarter worth about $71,279,000. Finally, Amundi increased its stake in shares of Cummins by 32.3% during the fourth quarter. Amundi now owns 771,038 shares of the company’s stock worth $277,381,000 after buying an additional 188,254 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 5.9 %

Shares of NYSE:CMI opened at $277.82 on Monday. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90. The stock has a 50-day simple moving average of $345.89 and a 200-day simple moving average of $348.94. 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 stock has a market capitalization of $38.19 billion, a P/E ratio of 9.86, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm posted $4.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.62%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of analyst reports. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird increased their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group reduced their price target 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. Finally, JPMorgan Chase & Co. cut their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research 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, the stock presently has an average rating of “Hold” and an average target price of $383.67.

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.