Wharton Business Group LLC Has $19.70 Million Holdings in Cummins Inc. (NYSE:CMI)

Wharton Business Group LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 56,506 shares of the company’s stock after selling 2,335 shares during the period. Cummins accounts for about 0.9% of Wharton Business Group LLC’s investment portfolio, making the stock its 28th largest holding. Wharton Business Group LLC’s holdings in Cummins were worth $19,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PFG Investments LLC increased its stake in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares during the period. Mariner Investment Group LLC bought a new stake in Cummins in the fourth quarter valued at approximately $1,046,000. Alpha DNA Investment Management LLC bought a new stake in Cummins in the third quarter valued at approximately $748,000. Franklin Resources Inc. increased its position in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares during the period. Finally, Bank of Montreal Can raised its holdings in Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after purchasing an additional 68,627 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMI shares. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Vertical Research downgraded 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. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $386.67.

Cummins Stock Performance

NYSE CMI opened at $366.79 on Monday. 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 fifty day moving average price of $361.51 and a 200-day moving average price of $342.40. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90. The firm has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts predict 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. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. Cummins’s dividend payout ratio (DPR) 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.