Metis Global Partners LLC Has $2.74 Million Stake in Cummins Inc. (NYSE:CMI)

Metis Global Partners LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,866 shares of the company’s stock after selling 436 shares during the period. Metis Global Partners LLC’s holdings in Cummins were worth $2,742,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $32,000. Finally, Providence First Trust Co acquired a new stake in Cummins during the 4th quarter worth approximately $35,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 1.0 %

Shares of CMI opened at $367.90 on Friday. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90. The business’s fifty day moving average is $362.32 and its 200-day moving average is $344.54. 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 firm has a market cap of $50.58 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the company posted $4.14 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts anticipate 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 will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research reports. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Citigroup dropped their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $386.67.

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.