FineMark National Bank & Trust Sells 47 Shares of Cummins Inc. (NYSE:CMI)

FineMark National Bank & Trust trimmed its position in Cummins Inc. (NYSE:CMI) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,166 shares of the company’s stock after selling 47 shares during the period. FineMark National Bank & Trust’s holdings in Cummins were worth $1,452,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC raised its position in 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 purchasing an additional 28 shares during the last quarter. BankPlus Trust Department bought a new position in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc acquired a new stake in Cummins during the 4th quarter worth approximately $27,000. TCTC Holdings LLC bought a new stake in Cummins during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CMI shares. Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, UBS Group lowered their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $389.50.

Cummins Trading Down 0.2 %

CMI opened at $330.57 on Wednesday. The company has a fifty day moving average price of $354.72 and a two-hundred day moving average price of $348.24. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a market cap of $45.45 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the business earned $4.14 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. Cummins’s dividend payout ratio (DPR) is presently 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.