Grantham Mayo Van Otterloo & Co. LLC Sells 307 Shares of Cummins Inc. (NYSE:CMI)

Grantham Mayo Van Otterloo & Co. LLC cut its position in shares of Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,870 shares of the company’s stock after selling 307 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.07% of Cummins worth $34,117,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Mariner Investment Group LLC bought a new position in shares of Cummins during the 4th quarter worth approximately $1,046,000. Franklin Resources Inc. increased its stake in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Cummins by 133.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,798 shares of the company’s stock valued at $2,021,000 after buying an additional 3,314 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Cummins by 296.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock worth $4,128,000 after acquiring an additional 8,851 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its position in Cummins by 2.0% in the 4th quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock valued at $38,481,000 after acquiring an additional 2,211 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI stock opened at $277.82 on Friday. The company has a market capitalization of $38.19 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company’s 50 day moving average price is $345.89 and its two-hundred day moving average price is $348.60.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business 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 firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 EPS. On average, analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.62%. Cummins’s payout ratio is presently 25.84%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CMI. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. UBS Group lowered their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Citigroup reduced their target price on shares of Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus price target of $383.67.

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.