Ranch Capital Advisors Inc. Has $1.86 Million Position in Cummins Inc. (NYSE:CMI)

Ranch Capital Advisors Inc. boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,342 shares of the company’s stock after buying an additional 59 shares during the period. Ranch Capital Advisors Inc.’s holdings in Cummins were worth $1,862,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new stake in shares of Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cummins in the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $341.97 on Monday. The company has a market capitalization of $47.01 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01. The firm’s 50 day simple moving average is $361.77 and its 200 day simple moving average is $346.52. 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 fifty-two week low of $260.88 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly 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. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. As a group, sell-side 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. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.13%. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price 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. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Robert W. Baird boosted 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. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $386.67.

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.