Angeles Investment Advisors LLC Sells 77 Shares of Cummins Inc. (NYSE:CMI)

Angeles Investment Advisors LLC decreased its position in shares of Cummins Inc. (NYSE:CMI) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 757 shares of the company’s stock after selling 77 shares during the period. Angeles Investment Advisors LLC’s holdings in Cummins were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CMI. Mariner Investment Group LLC bought a new position in Cummins during the 4th quarter valued at about $1,046,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Cummins in the third quarter worth approximately $748,000. Franklin Resources Inc. raised its holdings in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after buying an additional 99,464 shares during the period. Bank of Montreal Can lifted its stake in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after acquiring an additional 68,627 shares during the last quarter. Finally, Hancock Whitney Corp boosted its holdings in Cummins by 545.1% during the 3rd quarter. Hancock Whitney Corp now owns 38,630 shares of the company’s stock valued at $12,508,000 after acquiring an additional 32,642 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 1.1 %

NYSE CMI opened at $321.78 on Monday. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company has a 50 day moving average price of $355.99 and a 200 day moving average price of $347.73. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market cap of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results 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. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.14 earnings per share. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal 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 issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cummins presently has a consensus 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.