Sfmg LLC Takes Position in Cummins Inc. (NYSE:CMI)

Sfmg LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 938 shares of the company's stock, valued at approximately $327,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department bought a new stake in Cummins during the 4th quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the fourth quarter worth about $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins in the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins during the 4th quarter valued at $30,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMI. Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and raised their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday. Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, Citigroup dropped their target price on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $389.50.

Remove Ads

Cummins Trading Down 0.8 %

Shares of CMI traded down $2.79 during mid-day trading on Wednesday, reaching $328.08. The company's stock had a trading volume of 562,157 shares, compared to its average volume of 760,953. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company's fifty day moving average price is $354.07 and its two-hundred day moving average price is $348.10. The stock has a market cap of $45.11 billion, a PE ratio of 11.65, a P/E/G ratio of 2.19 and a beta of 1.01.

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, topping analysts' consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter in the prior year, the company earned $4.14 earnings per share. The business's revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm 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 was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.22%. Cummins's dividend payout ratio is presently 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.