Boyd Watterson Asset Management LLC OH Has $590,000 Position in Cummins Inc. (NYSE:CMI)

Boyd Watterson Asset Management LLC OH lowered its position in Cummins Inc. (NYSE:CMI) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,461 shares of the company’s stock after selling 49 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Cummins were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Cummins by 13.1% in the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after buying an additional 2,055,239 shares during the period. Morgan Stanley increased its stake in shares of Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after buying an additional 50,476 shares during the period. Northern Trust Corp increased its position in Cummins by 4.0% during the 3rd quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after purchasing an additional 69,830 shares during the period. Stifel Financial Corp increased its position in Cummins by 0.9% during the 3rd quarter. Stifel Financial Corp now owns 1,599,531 shares of the company’s stock valued at $365,430,000 after purchasing an additional 13,634 shares during the period. Finally, Principal Financial Group Inc. increased its position in Cummins by 28.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock valued at $244,710,000 after purchasing an additional 235,372 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

CMI stock traded down $0.47 during mid-day trading on Friday, reaching $291.14. 480,216 shares of the company traded hands, compared to its average volume of 917,274. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The company has a market capitalization of $39.82 billion, a P/E ratio of 56.19, a P/E/G ratio of 1.98 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The company has a fifty day moving average price of $283.34 and a 200-day moving average price of $250.62.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.52 EPS. As a group, analysts anticipate that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Insider Activity

In other Cummins news, Director Daniel William Fisher purchased 562 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now owns 1,068 shares in the company, valued at approximately $284,696.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $266.57 per share, with a total value of $149,812.34. Following the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CMI shares. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Morgan Stanley began coverage on Cummins in a research note on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective on the stock. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $243.00 to $225.00 in a research report on Friday, January 19th. Citigroup raised their target price on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $279.70.

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.