O Shaughnessy Asset Management LLC Grows Position in Cummins Inc. (NYSE:CMI)

O Shaughnessy Asset Management LLC raised its position in Cummins Inc. (NYSE:CMI) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,924 shares of the company’s stock after buying an additional 2,046 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cummins were worth $13,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Global Trust Asset Management LLC raised its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins during the fourth quarter worth about $27,000. TCTC Holdings LLC purchased a new position in shares of Cummins during the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter valued at about $30,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMI. Citigroup decreased 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. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reduced their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, Evercore ISI boosted their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $389.50.

Cummins Price Performance

Shares of NYSE:CMI opened at $313.45 on Monday. 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 price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The business’s 50 day simple moving average is $352.17 and its 200-day simple moving average is $348.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 27.12% and a net margin of 11.57%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.14 earnings per share. As a group, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

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.