Alpine Woods Capital Investors LLC Has $5.96 Million Stake in Cummins Inc. (NYSE:CMI)

Alpine Woods Capital Investors LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,091 shares of the company’s stock after selling 38 shares during the period. Cummins accounts for about 1.1% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 26th largest position. Alpine Woods Capital Investors LLC’s holdings in Cummins were worth $5,958,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% during the 4th 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 last quarter. BankPlus Trust Department bought a new stake in Cummins during the 4th quarter valued at approximately $26,000. Compass Financial Services Inc bought a new stake in Cummins during the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in Cummins during the 4th quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC bought a new stake in Cummins during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMI. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Robert W. Baird increased their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Price Performance

Cummins stock opened at $312.65 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a market capitalization of $42.98 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The business has a 50 day simple moving average of $360.03 and a 200 day simple moving average of $346.51.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business 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%. Cummins’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $4.14 EPS. On average, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.33%. Cummins’s dividend 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.