Fidelis Capital Partners LLC Purchases 93 Shares of Cummins Inc. (NYSE:CMI)

Fidelis Capital Partners LLC boosted its position in Cummins Inc. (NYSE:CMI) by 8.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,242 shares of the company’s stock after buying an additional 93 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Cummins were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in Cummins in the 4th quarter worth about $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new stake in Cummins during the 4th quarter valued at about $30,000. Finally, Prospera Private Wealth LLC purchased a new position in Cummins in the third quarter worth about $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 2.4 %

Shares of NYSE:CMI opened at $347.35 on Wednesday. The stock has a 50 day moving average of $362.28 and a 200 day moving average of $345.62. The company has a market cap of $47.75 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 12-month low of $260.88 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.

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

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Wall Street Analyst Weigh In

CMI has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $386.67.

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.