Pring Turner Capital Group Inc. Has $5.90 Million Stake in Cummins Inc. (NYSE:CMI)

Pring Turner Capital Group Inc. cut its stake in Cummins Inc. (NYSE:CMI) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,911 shares of the company’s stock after selling 145 shares during the quarter. Cummins comprises about 3.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 5th biggest holding. Pring Turner Capital Group Inc.’s holdings in Cummins were worth $5,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of Cummins by 164.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,974 shares of the company’s stock worth $4,525,000 after acquiring an additional 8,685 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Cummins by 11.4% during the 3rd quarter. Allworth Financial LP now owns 2,756 shares of the company’s stock valued at $892,000 after acquiring an additional 282 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cummins by 7.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,701 shares of the company’s stock valued at $3,819,000 after acquiring an additional 851 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Cummins by 7.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,355 shares of the company’s stock worth $5,619,000 after purchasing an additional 1,236 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CMI shares. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird increased their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Evercore ISI raised their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Trading Down 1.8 %

Cummins stock opened at $360.44 on Tuesday. The stock has a market cap of $49.55 billion, a P/E ratio of 12.80, a PEG ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The firm’s 50 day moving average price is $361.38 and its 200-day moving average price is $342.85.

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

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Cummins Company 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.