Lifeworks Advisors LLC Has $3.72 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Lifeworks Advisors LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,658 shares of the company’s stock after purchasing an additional 1,004 shares during the period. Lifeworks Advisors LLC’s holdings in Cummins were worth $3,715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in shares of Cummins by 3.0% in the fourth quarter. Larson Financial Group LLC now owns 2,804 shares of the company’s stock worth $977,000 after buying an additional 81 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in Cummins in the 4th quarter worth approximately $202,000. Value Star Asset Management Hong Kong Ltd purchased a new position in Cummins during the 4th quarter worth approximately $1,394,000. Edgestream Partners L.P. raised its stake in Cummins by 2,557.5% during the 4th quarter. Edgestream Partners L.P. now owns 19,453 shares of the company’s stock valued at $6,781,000 after purchasing an additional 18,721 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Cummins by 124.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,258 shares of the company’s stock valued at $787,000 after purchasing an additional 1,252 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.8 %

Cummins stock opened at $341.97 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $260.88 and a 1-year high of $387.90. The firm’s fifty day simple moving average is $361.77 and its 200-day simple moving average is $345.91. The company has a market capitalization of $47.01 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last posted 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. 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 business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $4.14 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.13%. Cummins’s payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays upped their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Truist Financial raised 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. Finally, Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.