Ritter Daniher Financial Advisory LLC DE Purchases 95 Shares of Cummins Inc. (NYSE:CMI)

Ritter Daniher Financial Advisory LLC DE grew its position in shares of Cummins Inc. (NYSE:CMI) by 316.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 125 shares of the company’s stock after acquiring an additional 95 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Cummins were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc purchased a new position in Cummins in the fourth quarter worth about $27,000. Meeder Asset Management Inc. increased its stake in Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new stake in Cummins during the fourth quarter valued at approximately $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMI. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Citigroup cut their price objective on shares of Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Truist Financial raised their target price 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, UBS Group cut their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $383.67.

Cummins Stock Performance

Cummins stock opened at $277.82 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market capitalization of $38.19 billion, a PE ratio of 9.86, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a 50 day moving average price of $345.89 and a 200-day moving average price of $348.94. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the company posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm 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. This represents a $7.28 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

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.