Bank of Jackson Hole Trust Buys Shares of 2,796 Cummins Inc. (NYSE:CMI)

Bank of Jackson Hole Trust purchased a new position in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,796 shares of the company's stock, valued at approximately $975,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Mcdonald Partners LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $617,000. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Cummins by 52.1% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,171 shares of the company's stock worth $2,151,000 after purchasing an additional 2,113 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Cummins in the fourth quarter valued at about $4,497,000. Davidson Trust Co. boosted its stake in shares of Cummins by 1.8% during the fourth quarter. Davidson Trust Co. now owns 2,943 shares of the company's stock valued at $1,026,000 after acquiring an additional 51 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Cummins in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Citigroup reduced their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $386.67.

Cummins Price Performance

Shares of NYSE:CMI traded down $17.60 on Friday, reaching $366.79. 802,298 shares of the company traded hands, compared to its average volume of 826,870. The stock has a market capitalization of $50.43 billion, a PE ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company's 50 day moving average is $361.52 and its 200-day moving average is $341.12. Cummins Inc. has a fifty-two week low of $259.06 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.14 EPS. As a group, analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. Cummins's payout ratio 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.