Enhancing Capital LLC Buys New Stake in Cummins Inc. (NYSE:CMI)

Enhancing Capital LLC bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,030 shares of the company's stock, valued at approximately $2,451,000. Cummins comprises 2.0% of Enhancing Capital LLC's investment portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in CMI. Global Trust Asset Management LLC increased its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department acquired a new position in Cummins in the 4th quarter valued at about $26,000. Compass Financial Services Inc acquired a new position in Cummins in the 4th quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in Cummins in the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter valued at about $30,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of CMI traded down $3.62 on Friday, reaching $321.78. The stock had a trading volume of 1,244,157 shares, compared to its average volume of 784,281. The firm has a market capitalization of $44.24 billion, a PE ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $355.99 and a 200 day moving average of $347.12. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90.

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Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.14 EPS. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

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 2.26%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent research reports. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, December 6th. UBS Group dropped their target price on Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. Truist Financial boosted their target price on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Finally, Robert W. Baird boosted their target price on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of "Hold" and a consensus price target of $389.50.

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.