Cummins Inc. (NYSE:CMI) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 133.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,798 shares of the company's stock after purchasing an additional 3,314 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cummins were worth $2,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Cummins in the 4th quarter worth approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the 4th quarter worth approximately $27,000. TCTC Holdings LLC purchased a new stake in Cummins during the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on CMI shares. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Robert W. Baird boosted their price target on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, UBS Group dropped their target price on shares of Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $389.50.

Remove Ads

Cummins Stock Performance

NYSE CMI traded up $8.92 on Monday, reaching $331.02. 775,724 shares of the company's stock traded hands, compared to its average volume of 766,459. The stock has a 50 day moving average price of $355.99 and a 200-day moving average price of $347.73. The firm has a market cap of $45.51 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.14 earnings per share. Equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is 25.84%.

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.