Cummins Inc. (NYSE:CMI) Shares Acquired by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 82.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,795 shares of the company’s stock after acquiring an additional 1,716 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Cummins were worth $1,323,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allstate Corp bought a new stake in Cummins in the fourth quarter valued at $1,435,000. Brown Brothers Harriman & Co. increased its holdings in shares of Cummins by 5.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,718 shares of the company’s stock worth $1,296,000 after acquiring an additional 179 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in Cummins in the 4th quarter valued at about $28,690,000. Level Four Advisory Services LLC boosted its stake in Cummins by 1.8% during the 4th quarter. Level Four Advisory Services LLC now owns 20,704 shares of the company’s stock valued at $7,218,000 after purchasing an additional 364 shares during the period. Finally, denkapparat Operations GmbH bought a new position in Cummins in the 4th quarter worth about $630,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 3.1 %

Shares of NYSE:CMI opened at $313.45 on Friday. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a 50 day moving average price of $352.17 and a 200 day moving average price of $348.05. 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) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the firm posted $4.14 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company 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. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMI. JPMorgan Chase & Co. cut their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average target price of $389.50.

Cummins 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.