Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $60.68 Million Position in Cummins Inc. (CMI)
Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Cummins Inc. (NYSE:CMI) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 343,509 shares of the company’s stock after purchasing an additional 4,856 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Cummins were worth $60,678,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CMI. Northwest Investment Counselors LLC bought a new stake in Cummins during the 3rd quarter worth approximately $132,000. Bank of Nova Scotia Trust Co. bought a new stake in Cummins during the 3rd quarter worth approximately $168,000. Krilogy Financial LLC bought a new stake in Cummins during the 3rd quarter worth approximately $168,000. SeaCrest Wealth Management LLC bought a new stake in Cummins during the 4th quarter worth approximately $205,000. Finally, Stock Yards Bank & Trust Co. bought a new stake in Cummins during the 4th quarter worth approximately $206,000. Institutional investors and hedge funds own 83.06% of the company’s stock.
A number of analysts recently issued reports on the company. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reissued an “equal weight” rating and set a $191.00 target price (up from $180.00) on shares of Cummins in a research note on Wednesday, January 24th. Oppenheimer increased their target price on Cummins to $207.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and set a $182.00 target price on shares of Cummins in a research note on Monday, February 5th. Finally, Citigroup increased their target price on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $188.18.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.38. The company had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period last year, the business earned $2.25 EPS. equities research analysts predict that Cummins Inc. will post 12.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.61%. Cummins’s dividend payout ratio is currently 72.73%.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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