Alpine Woods Capital Investors LLC Has $5.96 Million Stake in Cummins Inc. (NYSE:CMI)

Alpine Woods Capital Investors LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 17,091 shares of the company’s stock after selling 38 shares during the period. Cummins makes up 1.1% of Alpine Woods Capital Investors LLC’s portfolio, making the stock its 26th biggest position. Alpine Woods Capital Investors LLC’s holdings in Cummins were worth $5,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global Trust Asset Management LLC increased its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. KG&L Capital Management LLC increased its stake in shares of Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the period. Massachusetts Wealth Management increased its stake in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after buying an additional 30 shares during the period. Avestar Capital LLC increased its stake in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after buying an additional 31 shares during the period. Finally, Mayflower Financial Advisors LLC increased its stake in shares of Cummins by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $568,000 after buying an additional 32 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 5.5 %

NYSE:CMI opened at $312.65 on Friday. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.01. The stock has a 50-day moving average price of $360.03 and a two-hundred day moving average price of $346.51.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.14 earnings per share. As a group, equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.33%. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the subject of several research reports. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Cummins presently has an average rating of “Hold” and a consensus target price 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.