Cozad Asset Management Inc. Purchases 100 Shares of Cummins Inc. (NYSE:CMI)

Cozad Asset Management Inc. increased its position in Cummins Inc. (NYSE:CMI) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,493 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Cozad Asset Management Inc.’s holdings in Cummins were worth $1,218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC boosted its position 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 acquiring an additional 28 shares during the period. BankPlus Trust Department bought a new stake in Cummins during the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new stake in Cummins during the fourth quarter valued at approximately $27,000. TCTC Holdings LLC bought a new stake in Cummins during the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in Cummins during the fourth quarter valued at approximately $30,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Up 1.4 %

Shares of NYSE CMI opened at $326.13 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The firm’s fifty day moving average is $358.75 and its 200 day moving average is $347.28. The company has a market cap of $44.84 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CMI shares. 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 research report on Friday, December 6th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $392.64.

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.