United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys Shares of 2,300 Cummins Inc. (NYSE:CMI)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,300 shares of the company’s stock, valued at approximately $802,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC boosted 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 worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the 4th quarter worth about $27,000. TCTC Holdings LLC acquired a new stake in Cummins in the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in Cummins during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.2 %

CMI stock opened at $330.57 on Wednesday. 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 company has a market cap of $45.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.19 and a beta of 1.01. The business has a fifty day simple moving average of $354.72 and a 200-day simple moving average of $348.24. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly 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. 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 revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.14 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared 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 was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Analysts Set New Price Targets

Several brokerages have issued reports on CMI. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. UBS Group dropped their price target 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 upped their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus price target 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.