Bank Julius Baer & Co. Ltd Zurich Has $123,000 Stake in Cummins Inc. (NYSE:CMI)

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Cummins Inc. (NYSE:CMI) by 77.6% in the fourth quarter, Holdings Channel reports. The firm owned 512 shares of the company’s stock after selling 1,772 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cummins were worth $123,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Cummins during the third quarter valued at approximately $25,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the third quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new position in Cummins during the third quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Cummins during the third quarter valued at approximately $39,000. Finally, Peoples Bank KS acquired a new position in Cummins during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CMI. Evercore ISI lifted their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Morgan Stanley began coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Finally, Citigroup lifted their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Performance

Shares of CMI stock opened at $291.14 on Monday. The company’s fifty day simple moving average is $283.34 and its 200-day simple moving average is $250.92. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The firm has a market cap of $39.82 billion, a PE ratio of 56.20, a P/E/G ratio of 1.98 and a beta of 1.04. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the firm earned $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 18.34 EPS for the current fiscal year.

Cummins Announces Dividend

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

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.