SVB Wealth LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,362 shares of the company's stock, valued at approximately $1,521,000.
A number of other institutional investors also recently modified their holdings of the company. Global Trust Asset Management LLC increased its holdings in 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 in the last quarter. BankPlus Trust Department bought a new stake in shares of Cummins during the fourth quarter worth $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter valued at $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the third quarter valued at $32,000. Finally, Kestra Investment Management LLC bought a new position in shares of Cummins in the fourth quarter valued at about $43,000. Institutional investors own 83.46% of the company's stock.
Cummins Trading Down 0.9 %
CMI traded down $3.26 during midday trading on Thursday, reaching $344.06. 354,741 shares of the company were exchanged, compared to its average volume of 832,924. The stock has a market capitalization of $47.30 billion, a P/E ratio of 12.24, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The stock's 50-day simple moving average is $362.15 and its 200 day simple moving average is $345.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.
Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $8.06 billion. During the same quarter last year, the firm earned $4.14 EPS. Cummins's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The company also recently disclosed 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 21st. Cummins's dividend payout ratio is currently 25.84%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and increased their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial boosted their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $386.67.
Check Out Our Latest Research Report on Cummins
Cummins Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Cummins, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list.
While Cummins currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
