Global Retirement Partners LLC Grows Holdings in Cummins Inc. (NYSE:CMI)

Global Retirement Partners LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 81.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,613 shares of the company’s stock after purchasing an additional 2,520 shares during the period. Global Retirement Partners LLC’s holdings in Cummins were worth $1,957,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC increased 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 worth $26,000 after buying an additional 28 shares during the period. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new stake in Cummins during the 3rd quarter worth approximately $32,000. Kestra Investment Management LLC purchased a new stake in Cummins during the 4th quarter worth approximately $43,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Cummins during the 3rd quarter worth approximately $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMI has been the topic of several recent research reports. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Barclays boosted their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Trading Down 0.3 %

Shares of Cummins stock opened at $384.73 on Friday. The company has a fifty day simple moving average of $361.52 and a 200-day simple moving average of $341.12. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market cap of $52.89 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.16 and a beta of 1.00.

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

Cummins Dividend Announcement

The firm also recently declared 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 yield of 1.89%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

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.