Vista Capital Partners Inc. 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 and Exchange Commission (SEC). The institutional investor acquired 1,242 shares of the company's stock, valued at approximately $433,000.
Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its holdings in shares of Cummins by 81.5% in the 4th quarter. Global Retirement Partners LLC now owns 5,613 shares of the company's stock valued at $1,957,000 after purchasing an additional 2,520 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Cummins in the fourth quarter valued at about $975,000. Mcdonald Partners LLC bought a new position in Cummins in the fourth quarter valued at about $617,000. Kentucky Retirement Systems Insurance Trust Fund grew its position in Cummins by 52.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,171 shares of the company's stock valued at $2,151,000 after acquiring an additional 2,113 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Cummins during the fourth quarter worth about $4,497,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.
Cummins Trading Down 4.1 %
Shares of CMI stock traded down $15.78 on Friday, hitting $366.79. The company had a trading volume of 788,956 shares, compared to its average volume of 815,364. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. 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 cap of $50.43 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00. The stock's 50-day moving average is $361.52 and its two-hundred day moving average is $341.12.
Cummins (NYSE:CMI - Get Free Report) last released its earnings results 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 business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's revenue for the quarter 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. On average, equities research analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.
Cummins Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins's payout ratio is 25.84%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CMI. JPMorgan Chase & Co. upgraded shares of Cummins from an "underweight" rating to a "neutral" rating and raised their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Finally, Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $386.67.
View Our Latest Report on CMI
About Cummins
(
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.
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