SNS Financial Group LLC Reduces Stake in Cummins Inc. (CMI)

SNS Financial Group LLC decreased its holdings in Cummins Inc. (NYSE:CMI) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,151 shares of the company’s stock after selling 1,101 shares during the period. SNS Financial Group LLC’s holdings in Cummins were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new position in Cummins in the fourth quarter worth approximately $251,000. Royce & Associates LP boosted its position in Cummins by 22.0% during the fourth quarter. Royce & Associates LP now owns 24,400 shares of the company’s stock worth $4,310,000 after purchasing an additional 4,400 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Cummins by 433.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,195 shares of the company’s stock valued at $211,000 after acquiring an additional 971 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Cummins by 107.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,186,164 shares of the company’s stock valued at $209,524,000 after acquiring an additional 613,102 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Cummins by 8.3% in the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after acquiring an additional 898,512 shares during the period. Institutional investors own 83.06% of the company’s stock.

Cummins Inc. (NYSE:CMI) opened at $165.60 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Cummins Inc. has a 1-year low of $143.83 and a 1-year high of $194.18. The stock has a market capitalization of $27,437.11, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the business earned $2.25 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. sell-side analysts expect that Cummins Inc. will post 12.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is currently 72.61%.

Several research analysts recently commented on the company. Credit Suisse Group reduced their target price on Cummins from $208.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Stifel Nicolaus restated a “hold” rating and issued a $182.00 target price on shares of Cummins in a research note on Monday, February 5th. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a report on Friday, February 9th. TheStreet cut Cummins from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, William Blair reiterated a “hold” rating on shares of Cummins in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $188.18.

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About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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