Williamson Legacy Group LLC Purchases New Position in Cummins Inc. (NYSE:CMI)

Williamson Legacy Group LLC bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,976 shares of the company's stock, valued at approximately $1,037,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mariner Investment Group LLC acquired a new stake in Cummins during the fourth quarter worth about $1,046,000. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $748,000. Franklin Resources Inc. increased its holdings in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock worth $79,017,000 after buying an additional 99,464 shares during the last quarter. Bank of Montreal Can lifted its holdings in Cummins by 21.2% in the third quarter. Bank of Montreal Can now owns 391,845 shares of the company's stock valued at $127,898,000 after acquiring an additional 68,627 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in Cummins by 545.1% in the third quarter. Hancock Whitney Corp now owns 38,630 shares of the company's stock worth $12,508,000 after acquiring an additional 32,642 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 1.6 %

NYSE CMI traded down $5.79 during trading hours on Monday, hitting $362.39. 231,106 shares of the company were exchanged, compared to its average volume of 822,693. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market cap of $49.82 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 2.19 and a beta of 1.00. The company has a 50 day moving average of $362.32 and a two-hundred day moving average of $344.91. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current 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 paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.01%. Cummins's payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

CMI has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Jefferies Financial Group lifted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cummins presently has an average rating of "Hold" and a consensus price target of $386.67.

About Cummins

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.