SGL Investment Advisors Inc. Sells 4,200 Shares of Cummins Inc. (NYSE:CMI)

SGL Investment Advisors Inc. lowered its holdings in Cummins Inc. (NYSE:CMI) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,545 shares of the company’s stock after selling 4,200 shares during the quarter. Cummins accounts for 2.7% of SGL Investment Advisors Inc.’s holdings, making the stock its 9th biggest position. SGL Investment Advisors Inc.’s holdings in Cummins were worth $5,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMI. Norges Bank acquired a new stake in shares of Cummins in the fourth quarter worth $499,490,000. Raymond James Financial Inc. acquired a new stake in Cummins during the fourth quarter valued at $187,082,000. Vanguard Group Inc. grew its position in Cummins by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after buying an additional 250,650 shares during the period. Northern Trust Corp grew its position in Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock valued at $656,418,000 after buying an additional 246,807 shares during the period. Finally, Neuberger Berman Group LLC grew its position in Cummins by 57.0% during the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company’s stock valued at $224,317,000 after buying an additional 233,694 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

CMI opened at $332.02 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $45.74 billion, a PE ratio of 11.79, a PEG ratio of 2.19 and a beta of 1.02. The firm’s 50-day moving average price is $303.94 and its 200 day moving average price is $341.35. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $4.92 by $1.04. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.08 EPS. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.19%. Cummins’s payout ratio is 36.22%.

Analysts Set New Price Targets

CMI has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and dropped their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Evercore ISI lifted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $354.83.

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.