Mirabaud Asset Management Ltd Has $2.36 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Mirabaud Asset Management Ltd trimmed its position in Cummins Inc. (NYSE:CMI) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,780 shares of the company’s stock after selling 1,128 shares during the quarter. Cummins comprises approximately 1.1% of Mirabaud Asset Management Ltd’s holdings, making the stock its 28th largest position. Mirabaud Asset Management Ltd’s holdings in Cummins were worth $2,362,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% during 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 boosted its stake in Cummins by 0.8% during the 4th 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 during the period. Signaturefd LLC grew its holdings in Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after buying an additional 28 shares during the last quarter. Massachusetts Wealth Management increased its position in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares during the period. Finally, Avestar Capital LLC lifted its holdings in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after buying an additional 31 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 5.9 %

Shares of NYSE:CMI opened at $277.82 on Friday. The company’s fifty day moving average is $345.89 and its 200-day moving average is $348.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company has a market capitalization of $38.19 billion, a PE ratio of 9.86, a P/E/G ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly 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. The firm 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 company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.14 earnings per share. Equities research analysts predict that Cummins Inc. will post 22.54 earnings per share 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 2.62%. Cummins’s dividend payout ratio is 25.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMI shares. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup cut their price target on Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. decreased their price objective on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, UBS Group cut their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $383.67.

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.