Brown Brothers Harriman & Co. Acquires 179 Shares of Cummins Inc. (NYSE:CMI)

Brown Brothers Harriman & Co. raised its holdings in Cummins Inc. (NYSE:CMI) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,718 shares of the company’s stock after purchasing an additional 179 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Cummins were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CMI. Global Trust Asset Management LLC grew 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 buying an additional 28 shares during the period. KG&L Capital Management LLC boosted its stake in Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the last quarter. Signaturefd LLC grew its position in shares of Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after acquiring an additional 28 shares during the period. Massachusetts Wealth Management increased its stake in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after purchasing an additional 30 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CMI shares. UBS Group decreased their target price on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays upped their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus target price of $389.50.

Cummins Stock Down 3.1 %

Shares of NYSE:CMI opened at $313.45 on Monday. The firm has a fifty day moving average price of $352.17 and a two-hundred day moving average price of $348.80. The company has a market cap of $43.09 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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. The company had revenue of $8.45 billion during 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%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $4.14 earnings per share. Analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) 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.