172 Shares in Cummins Inc. (NYSE:CMI) Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. purchased a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 172 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. KG&L Capital Management LLC increased its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC increased its stake in Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its stake in Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares in the last quarter. Finally, Avestar Capital LLC increased 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 valued at $344,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 1.1 %

Shares of Cummins stock opened at $321.78 on Friday. The stock has a market capitalization of $44.24 billion, a P/E ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $355.99 and a two-hundred day moving average price of $347.41. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.14 earnings per share. Equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.26%. Cummins’s payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Evercore ISI upped their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Barclays upped their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $389.50.

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.