Jones Financial Companies Lllp Increases Stock Position in Cummins Inc. (NYSE:CMI)

Jones Financial Companies Lllp increased its position in Cummins Inc. (NYSE:CMI - Free Report) by 35.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,547 shares of the company's stock after acquiring an additional 4,077 shares during the quarter. Jones Financial Companies Lllp's holdings in Cummins were worth $5,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC boosted its holdings in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department bought a new position in Cummins during the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the 4th quarter valued at approximately $27,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins in the third quarter valued at $32,000. Finally, Providence First Trust Co purchased a new position in shares of Cummins in the fourth quarter valued at $35,000. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMI has been the subject of several research reports. Citigroup lowered their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded Cummins from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and an average price target of $386.67.

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Cummins Trading Down 0.8 %

Shares of NYSE:CMI traded down $2.89 on Friday, hitting $341.97. 1,399,031 shares of the company's stock were exchanged, compared to its average volume of 857,471. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 12 month low of $260.88 and a 12 month 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 business's 50 day simple moving average is $361.77 and its two-hundred day simple moving average is $345.91.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share 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 analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $4.14 EPS. Analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. Cummins's payout ratio is 25.84%.

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.