Cummins Inc. (NYSE:CMI) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP raised its position in Cummins Inc. (NYSE:CMI) by 39.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,616 shares of the company’s stock after acquiring an additional 455 shares during the quarter. Forum Financial Management LP’s holdings in Cummins were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CMI. Global Trust Asset Management LLC increased its position in Cummins by 59.6% in the 4th 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 during the period. BankPlus Trust Department acquired a new position in shares of Cummins during the fourth quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the fourth quarter worth about $27,000. Meeder Asset Management Inc. grew its position in Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in Cummins during the 4th quarter valued at about $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.3 %

NYSE CMI opened at $281.37 on Friday. The firm’s 50 day moving average price is $326.83 and its two-hundred day moving average price is $345.40. The stock has a market cap of $38.76 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last posted its quarterly earnings results 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 return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

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 $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.59%. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Cummins from $375.00 to $308.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their price target on Cummins from $425.00 to $340.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays boosted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Citigroup dropped their price target on shares of Cummins from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $346.00.

Cummins 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.