Skandinaviska Enskilda Banken AB publ Sells 100 Shares of Cummins Inc. (NYSE:CMI)

Skandinaviska Enskilda Banken AB publ cut its position in Cummins Inc. (NYSE:CMI) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,694 shares of the company’s stock after selling 100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cummins were worth $9,649,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new position in shares of Cummins during the fourth quarter valued at about $30,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Cummins during the third quarter valued at about $32,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 3.0 %

Cummins stock opened at $322.24 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. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The stock’s 50 day simple moving average is $359.39 and its two-hundred day simple moving average is $346.59. The firm has a market cap of $44.30 billion, a PE ratio of 11.44, a P/E/G ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $8.06 billion. During the same quarter in the prior year, the firm posted $4.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s dividend payout ratio is presently 25.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI upped their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird upped their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Barclays upped their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $386.67.

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.