938 Shares in Cummins Inc. (NYSE:CMI) Purchased by Sfmg LLC

Sfmg LLC bought a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, HoldingsChannel.com reports. The fund bought 938 shares of the company’s stock, valued at approximately $327,000.

Other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% in the fourth 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 during the last quarter. BankPlus Trust Department bought a new position in Cummins in the fourth quarter valued at $26,000. Compass Financial Services Inc bought a new position in Cummins in the fourth quarter valued at $27,000. TCTC Holdings LLC acquired a new stake in Cummins in the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in Cummins during the 4th quarter worth about $30,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of a number of recent research reports. 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 report on Wednesday, February 5th. UBS Group lowered their price target on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Truist Financial increased their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Down 1.1 %

Shares of CMI opened at $321.78 on Friday. The firm’s 50-day simple moving average is $355.99 and its 200 day simple moving average is $347.41. 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 $44.24 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results 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. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.14 earnings per share. On average, analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s payout ratio is presently 25.84%.

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.