Capital Investment Advisors LLC Buys 2,211 Shares of Cummins Inc. (NYSE:CMI)

Capital Investment Advisors LLC grew its stake in Cummins Inc. (NYSE:CMI - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,386 shares of the company's stock after purchasing an additional 2,211 shares during the period. Capital Investment Advisors LLC owned about 0.08% of Cummins worth $38,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH raised its holdings in Cummins by 14.3% in the 4th quarter. Trust Co. of Toledo NA OH now owns 1,218 shares of the company's stock valued at $425,000 after buying an additional 152 shares during the last quarter. Matrix Trust Co raised its holdings in Cummins by 520.5% during the 4th quarter. Matrix Trust Co now owns 273 shares of the company's stock worth $95,000 after purchasing an additional 229 shares during the last quarter. Czech National Bank raised its holdings in Cummins by 6.5% during the 4th quarter. Czech National Bank now owns 29,744 shares of the company's stock worth $10,369,000 after purchasing an additional 1,826 shares during the last quarter. Graypoint LLC raised its holdings in Cummins by 2.0% during the 4th quarter. Graypoint LLC now owns 1,874 shares of the company's stock worth $653,000 after purchasing an additional 36 shares during the last quarter. Finally, Atlas Brown Inc. raised its holdings in Cummins by 147.4% during the 4th quarter. Atlas Brown Inc. now owns 5,208 shares of the company's stock worth $1,816,000 after purchasing an additional 3,103 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Cummins from $369.00 to $424.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $363.50.

Cummins Stock Up 1.7 %

CMI traded up $5.92 during mid-day trading on Monday, reaching $360.80. 595,743 shares of the stock were exchanged, compared to its average volume of 574,533. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a market capitalization of $49.50 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The company has a 50 day moving average price of $361.92 and a two-hundred day moving average price of $325.03. Cummins Inc. has a 1 year low of $226.52 and a 1 year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.73 EPS. As a group, research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins's dividend payout ratio (DPR) is currently 48.08%.

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.