Epoch Investment Partners Inc. Sells 72,633 Shares of Cummins Inc. $CMI

Epoch Investment Partners Inc. lessened its stake in Cummins Inc. (NYSE:CMI) by 31.6% in the fourth quarter, HoldingsChannel reports. The firm owned 157,046 shares of the company’s stock after selling 72,633 shares during the period. Epoch Investment Partners Inc.’s holdings in Cummins were worth $80,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares during the period. Intech Investment Management LLC grew its position in shares of Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,146 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Cummins by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after acquiring an additional 1,759 shares during the period. ICW Investment Advisors LLC bought a new stake in shares of Cummins during the 2nd quarter valued at $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins during the 2nd quarter valued at $31,000. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup boosted their price objective on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $565.00 to $850.00 in a research report on Monday, June 8th. Finally, Barclays lifted their target price on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.14.

Insiders Place Their Bets

In other Cummins news, EVP Bonnie J. Fetch sold 652 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president owned 11,679 shares in the company, valued at $8,177,519.01. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by corporate insiders.

Cummins Stock Up 0.6%

CMI opened at $659.77 on Friday. The stock has a market cap of $91.04 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.23. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm’s fifty day moving average is $648.43 and its 200 day moving average is $583.26.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.96 EPS. On average, sell-side analysts forecast that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s payout ratio is presently 41.52%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.