Cummins Inc. (NYSE:CMI) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its holdings in Cummins Inc. (NYSE:CMI) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,398 shares of the company’s stock after purchasing an additional 99 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Cummins were worth $1,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMI. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% during 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 last quarter. KG&L Capital Management LLC raised its stake in Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the last quarter. Massachusetts Wealth Management raised 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 during the last quarter. Avestar Capital LLC increased its stake in 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 buying an additional 31 shares during the period. Finally, Equitable Trust Co. increased its stake in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.5 %

NYSE:CMI opened at $379.21 on Wednesday. The company has a market capitalization of $52.02 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The stock has a fifty day simple moving average of $360.89 and a 200-day simple moving average of $339.87.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the company posted $4.14 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $383.08.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.