Savant Capital LLC Increases Stake in Cummins Inc. (NYSE:CMI)

Savant Capital LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,910 shares of the company’s stock after buying an additional 349 shares during the period. Savant Capital LLC’s holdings in Cummins were worth $4,501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC lifted its holdings 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 buying an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Cummins during the 4th quarter worth about $27,000. Prospera Private Wealth LLC purchased a new stake in Cummins during the third quarter worth approximately $32,000. Friedenthal Financial acquired a new position in Cummins in the fourth quarter valued at approximately $55,000. Finally, Ashton Thomas Securities LLC purchased a new position in Cummins in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $372.38 on Wednesday. The business has a 50 day simple moving average of $361.74 and a 200-day simple moving average of $337.16. Cummins Inc. has a 12 month low of $250.90 and a 12 month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The stock has a market capitalization of $51.08 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business earned $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.96%. Cummins’s payout ratio is 25.84%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. Barclays boosted 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. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $383.08.

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.