Mercer Global Advisors Inc. ADV Trims Holdings in Cummins Inc. (NYSE:CMI)

Mercer Global Advisors Inc. ADV lowered its holdings in Cummins Inc. (NYSE:CMI) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 35,287 shares of the company’s stock after selling 348 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Cummins were worth $12,301,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its stake in shares of 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 period. BankPlus Trust Department bought a new position in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter valued at $27,000. Meeder Asset Management Inc. increased its holdings in shares of Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new position in shares of Cummins in the fourth quarter worth $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

Shares of CMI opened at $299.72 on Friday. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 2.19 and a beta of 1.02. The business has a 50-day simple moving average of $310.47 and a two-hundred day simple moving average of $342.38.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS 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 analysts’ expectations 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 last year, the business earned $4.14 EPS. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.43%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMI shares. Robert W. Baird reduced their price objective on Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Bank of America upgraded shares of 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 research note on Tuesday, January 14th. Morgan Stanley lowered their price objective on shares of Cummins from $425.00 to $340.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Citigroup cut their target price on shares of Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price target on Cummins from $375.00 to $308.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $346.00.

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.