Bellwether Advisors LLC Acquires Shares of 137 Cummins Inc. (NYSE:CMI)

Bellwether Advisors LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 137 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in shares of 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 acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cummins during the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC bought a new position in shares of Cummins during the fourth quarter valued at approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 0.3 %

Shares of Cummins stock opened at $294.24 on Tuesday. 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 stock has a market capitalization of $40.53 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The company has a 50-day simple moving average of $316.28 and a two-hundred day simple moving average of $343.60.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share 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 firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the company earned $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, 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. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.47%. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Cummins from $375.00 to $308.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley dropped their target price on shares of Cummins from $425.00 to $340.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Truist Financial dropped their price objective on shares of Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus price target of $346.00.

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.