UMB Bank N A MO lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,386 shares of the company’s stock after selling 617 shares during the period. UMB Bank N A MO’s holdings in Cummins were worth $594,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Wealth Quarterback LLC purchased a new stake in Cummins in the 4th quarter worth approximately $23,102,111,000. Norges Bank purchased a new position in shares of Cummins during the fourth quarter valued at about $300,538,000. Wells Fargo & Company MN raised its stake in Cummins by 31.2% in the first quarter. Wells Fargo & Company MN now owns 1,877,796 shares of the company’s stock worth $254,104,000 after buying an additional 446,111 shares in the last quarter. Capital International Investors purchased a new stake in Cummins in the first quarter worth about $56,469,000. Finally, First Eagle Investment Management LLC boosted its position in Cummins by 17.6% during the 1st quarter. First Eagle Investment Management LLC now owns 2,201,444 shares of the company’s stock valued at $297,899,000 after acquiring an additional 329,228 shares in the last quarter. Institutional investors own 80.97% of the company’s stock.

CMI traded down $0.86 during trading on Friday, hitting $168.85. 225,154 shares of the company’s stock traded hands, compared to its average volume of 1,421,649. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 2.30 and a beta of 1.14. The company’s 50 day simple moving average is $166.19 and its two-hundred day simple moving average is $160.78. Cummins Inc. has a 12-month low of $101.03 and a 12-month high of $186.73. The company has a current ratio of 1.40, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $1.00. Cummins had a return on equity of 24.86% and a net margin of 9.34%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the company posted $4.20 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts expect that Cummins Inc. will post 7.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $1.311 per share. The ex-dividend date was Thursday, May 21st. This represents a $5.24 dividend on an annualized basis and a yield of 3.11%. Cummins’s dividend payout ratio (DPR) is 34.82%.

A number of research analysts have recently commented on CMI shares. JPMorgan Chase & Co. lowered their target price on Cummins from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Cummins in a research report on Tuesday, April 28th. Wolfe Research raised shares of Cummins from an “underperform” rating to a “market perform” rating in a research report on Friday, March 27th. UBS Group boosted their price objective on shares of Cummins from $167.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, TheStreet upgraded shares of Cummins from a “c+” rating to a “b” rating in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. Cummins presently has a consensus rating of “Hold” and a consensus target price of $169.81.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

See Also: Market Indexes

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.