Truvestments Capital LLC Has $970,000 Stock Position in Cummins Inc. (NYSE:CMI)

Truvestments Capital LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 26.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,784 shares of the company’s stock after buying an additional 577 shares during the period. Truvestments Capital LLC’s holdings in Cummins were worth $970,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Cummins by 13.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 726 shares of the company’s stock valued at $253,000 after purchasing an additional 84 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Cummins by 38.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,149 shares of the company’s stock valued at $1,446,000 after purchasing an additional 1,153 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Cummins by 169.8% in the fourth quarter. Wealthfront Advisers LLC now owns 27,616 shares of the company’s stock valued at $9,627,000 after buying an additional 17,382 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Cummins by 5.1% in the fourth quarter. Citizens Financial Group Inc. RI now owns 31,770 shares of the company’s stock valued at $11,075,000 after buying an additional 1,554 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in shares of Cummins by 12.7% in the fourth quarter. Sage Mountain Advisors LLC now owns 1,080 shares of the company’s stock valued at $377,000 after buying an additional 122 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price 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. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Stock Performance

Shares of Cummins stock opened at $329.21 on Wednesday. The company has a 50 day moving average of $361.09 and a 200-day moving average of $346.86. Cummins Inc. has a 1-year low of $260.88 and a 1-year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company has a market cap of $45.26 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

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

Cummins Dividend Announcement

The business also recently disclosed 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 yield of 2.21%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 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.