Cummins Inc. (NYSE:CMI) Shares Purchased by Blair William & Co. IL

Blair William & Co. IL grew its position in shares of Cummins Inc. (NYSE:CMI) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 43,183 shares of the company’s stock after acquiring an additional 1,108 shares during the quarter. Blair William & Co. IL’s holdings in Cummins were worth $15,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC lifted its stake in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in Cummins during the fourth quarter worth about $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the fourth quarter worth about $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins during the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cummins in the fourth quarter valued at approximately $30,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI upped their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

Shares of CMI opened at $313.45 on Friday. The company has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.13, 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. 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 stock has a 50 day moving average price of $352.17 and a 200 day moving average price of $348.05.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts predict 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 dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

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.