Zions Bancorporation N.A. Sells 283 Shares of Cummins Inc. (NYSE:CMI)

Zions Bancorporation N.A. lessened its position in Cummins Inc. (NYSE:CMI) by 72.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109 shares of the company’s stock after selling 283 shares during the quarter. Zions Bancorporation N.A.’s holdings in Cummins were worth $38,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its stake 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 during the last quarter. BankPlus Trust Department bought a new stake in shares of Cummins during the 4th quarter worth approximately $26,000. Compass Financial Services Inc purchased a new position in Cummins during the 4th quarter valued at $27,000. TCTC Holdings LLC bought a new position in Cummins in the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Cummins in the fourth quarter worth $30,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

CMI opened at $323.93 on Friday. The firm has a market capitalization of $44.53 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The business’s 50-day moving average is $353.22 and its two-hundred day moving average is $347.93. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.25%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMI. Barclays boosted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. UBS Group lowered their price target on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Robert W. Baird upped their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Profile

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.