Catalyst Capital Advisors LLC Raises Position in Cummins Inc. (NYSE:CMI)

Catalyst Capital Advisors LLC grew its position in Cummins Inc. (NYSE:CMI - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,770 shares of the company's stock after purchasing an additional 1,850 shares during the period. Catalyst Capital Advisors LLC's holdings in Cummins were worth $3,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC grew 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 worth $26,000 after buying an additional 28 shares in the last quarter. KG&L Capital Management LLC lifted its position in Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after purchasing an additional 28 shares during the period. Chicago Capital LLC grew its stake in Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Massachusetts Wealth Management increased its stake in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after acquiring an additional 30 shares during the last quarter. Finally, Avestar Capital LLC increased its stake in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after purchasing an additional 31 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Down 0.3 %

Shares of NYSE CMI traded down $1.34 during midday trading on Thursday, hitting $384.73. 641,033 shares of the stock traded hands, compared to its average volume of 827,610. The business has a 50 day moving average price of $361.24 and a two-hundred day moving average price of $340.82. Cummins Inc. has a one year low of $259.06 and a one year 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 has a market cap of $52.89 billion, a PE ratio of 13.66, a P/E/G ratio of 2.16 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.14 EPS. On average, equities analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.89%. Cummins's dividend payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMI shares. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and an average price target of $386.67.

Cummins Company 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.