Brown Brothers Harriman & Co. Buys 179 Shares of Cummins Inc. (NYSE:CMI)

Brown Brothers Harriman & Co. raised its stake in Cummins Inc. (NYSE:CMI) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,718 shares of the company’s stock after buying an additional 179 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cummins were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMI. Global Trust Asset Management LLC boosted 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 in the last quarter. KG&L Capital Management LLC boosted its stake in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Cummins by 0.9% during the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after purchasing an additional 28 shares during the last quarter. Massachusetts Wealth Management increased its stake in shares of 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 buying an additional 30 shares during the period. Finally, Avestar Capital LLC raised its holdings in Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after buying an additional 31 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $313.45 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $352.17 and a two-hundred day simple moving average of $348.80. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The firm 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 (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.14 EPS. Analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

A number of research firms have weighed in on CMI. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. UBS Group lowered their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average target price of $389.50.

About Cummins

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.