Bank Julius Baer & Co. Ltd Zurich Has $479,000 Holdings in Cummins Inc. (NYSE:CMI)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Cummins Inc. (NYSE:CMI) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,245 shares of the company’s stock after selling 192 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cummins were worth $479,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CMI. Global Trust Asset Management LLC lifted its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new position in Cummins during the fourth quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at approximately $32,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 2.4 %

Shares of CMI stock opened at $333.82 on Tuesday. The business’s 50 day moving average is $361.48 and its two-hundred day moving average is $346.72. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a market cap of $45.89 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the business posted $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMI. Bank of America raised shares of 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. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.