Honkamp Krueger Financial Services Inc. lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 27.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,400 shares of the company’s stock after selling 907 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Cummins were worth $424,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $132,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cummins during the third quarter valued at approximately $168,000. Krilogy Financial LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $168,000. SeaCrest Wealth Management LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $205,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of Cummins during the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 82.69% of the company’s stock.
Several research analysts have issued reports on the company. Oppenheimer boosted their target price on Cummins to $207.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Deutsche Bank set a $169.00 target price on Cummins and gave the company a “sell” rating in a research report on Monday, February 5th. Credit Suisse Group dropped 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. Royal Bank of Canada boosted their target price on Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Cummins has a consensus rating of “Hold” and a consensus target price of $188.18.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. Cummins’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.25 earnings per share. sell-side analysts expect that Cummins Inc. will post 12.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Friday, February 23rd will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 72.61%.
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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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