Global Retirement Partners LLC Has $1.96 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Global Retirement Partners LLC boosted its stake in Cummins Inc. (NYSE:CMI - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,613 shares of the company's stock after buying an additional 2,520 shares during the period. Global Retirement Partners LLC's holdings in Cummins were worth $1,957,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMI. Pathway Financial Advisers LLC boosted its position in shares of Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the period. International Assets Investment Management LLC increased its position in Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock worth $315,616,000 after buying an additional 972,247 shares during the period. Fisher Asset Management LLC lifted its stake in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after buying an additional 165,398 shares during the last quarter. State Street Corp boosted its holdings in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the period. Finally, abrdn plc grew its position in shares of Cummins by 22.5% during the third quarter. abrdn plc now owns 611,810 shares of the company's stock worth $198,119,000 after acquiring an additional 112,529 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

NYSE:CMI traded down $17.60 during mid-day trading on Friday, reaching $366.79. 802,298 shares of the stock were exchanged, compared to its average volume of 826,870. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average price of $361.52 and a 200 day moving average price of $341.12. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The firm has a market capitalization of $50.43 billion, a PE ratio of 13.02, a PEG ratio of 2.20 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.14 EPS. Research analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. Cummins's dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMI. The Goldman Sachs Group upped their price objective 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. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $386.67.

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.