DMKC Advisory Services LLC Invests $1.98 Million in Cummins Inc. (NYSE:CMI)

DMKC Advisory Services LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,674 shares of the company's stock, valued at approximately $1,978,000. Cummins comprises approximately 1.8% of DMKC Advisory Services LLC's portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC boosted its stake in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company's stock worth $725,000 after acquiring an additional 485 shares during the last quarter. Mariner Investment Group LLC purchased a new position in shares of Cummins during the 4th quarter worth $1,046,000. Alpha DNA Investment Management LLC purchased a new position in shares of Cummins during the 3rd quarter valued at $748,000. Franklin Resources Inc. lifted its stake in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after buying an additional 99,464 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company's stock valued at $127,898,000 after buying an additional 68,627 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Evercore ISI lifted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Citigroup lowered their target price 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. Finally, Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $386.67.

Cummins Price Performance

Shares of Cummins stock traded up $5.99 during trading hours on Wednesday, reaching $367.04. The company's stock had a trading volume of 533,864 shares, compared to its average volume of 829,310. The firm has a 50 day moving average price of $361.37 and a 200-day moving average price of $343.32. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. 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 stock has a market cap of $50.46 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 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 firm's revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.14 EPS. On average, analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins's payout ratio is 25.84%.

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.