Frank Rimerman Advisors LLC Grows Stake in Cummins Inc. (NYSE:CMI)

Frank Rimerman Advisors LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,561 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cummins were worth $1,241,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC increased its position in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins during the fourth quarter worth about $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in shares of Cummins in the 4th quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in Cummins in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial upped 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. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $392.64.

Cummins Trading Up 3.0 %

CMI stock opened at $322.24 on Friday. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. 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 $44.30 billion, a P/E ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. The company’s 50-day simple moving average is $359.39 and its 200-day simple moving average is $346.87.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS 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%. Cummins’s quarterly 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. As a group, equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed 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. This represents a $7.28 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.