Venturi Wealth Management LLC Increases Stock Position in Cummins Inc. (NYSE:CMI)

Venturi Wealth Management LLC grew its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 21.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,312 shares of the company's stock after buying an additional 943 shares during the quarter. Venturi Wealth Management LLC's holdings in Cummins were worth $1,852,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CMI. State Street Corp increased its holdings in Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. FMR LLC increased its stake in shares of Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company's stock worth $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 4.6 %

Shares of NYSE CMI traded down $17.60 during trading on Friday, hitting $366.79. 802,298 shares of the company were exchanged, compared to its average volume of 826,870. The company has a fifty day moving average price of $361.51 and a 200-day moving average price of $341.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market capitalization of $50.43 billion, a PE ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS 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 company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. Cummins's quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm 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. 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%.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised Cummins from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Truist Financial raised their price objective on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Finally, Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $386.67.

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.