Cummins Inc. (NYSE:CMI) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,663 shares of the company's stock after acquiring an additional 1,121 shares during the period. Cerity Partners LLC owned approximately 0.09% of Cummins worth $40,336,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC lifted its holdings in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department bought a new stake in Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its stake in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new stake in shares of Cummins in the fourth quarter worth approximately $28,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Up 1.5 %

NYSE:CMI traded up $4.25 during midday trading on Friday, reaching $286.00. 722,702 shares of the stock traded hands, compared to its average volume of 813,748. The stock has a market capitalization of $39.40 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 12-month low of $260.02 and a 12-month 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 business has a 50-day moving average of $335.61 and a two-hundred day moving average of $346.99.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter last year, the firm earned $4.14 EPS. The business's quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMI shares. Citigroup lowered their target price on shares of Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their price objective for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Truist Financial lowered their price target on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Finally, Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Cummins currently has an average rating of "Hold" and a consensus price target of $354.17.

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.