Callan Family Office LLC Takes $463,000 Position in Cummins Inc. (NYSE:CMI)

Callan Family Office LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,328 shares of the company’s stock, valued at approximately $463,000.

Several other large investors have also made changes to their positions in CMI. Candriam S.C.A. boosted its holdings in shares of Cummins by 35.3% in the 4th quarter. Candriam S.C.A. now owns 15,576 shares of the company’s stock valued at $5,430,000 after purchasing an additional 4,065 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Cummins in the fourth quarter valued at about $187,082,000. Aigen Investment Management LP bought a new position in Cummins in the fourth quarter valued at about $348,000. Proficio Capital Partners LLC acquired a new position in Cummins during the fourth quarter worth about $204,000. Finally, Assetmark Inc. lifted its holdings in shares of Cummins by 0.6% in the fourth quarter. Assetmark Inc. now owns 18,048 shares of the company’s stock worth $6,291,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMI. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI raised their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial raised 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. Finally, Robert W. Baird boosted their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Price Performance

Cummins stock opened at $341.97 on Monday. The firm has a market cap of $47.01 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01. The stock’s 50 day moving average is $361.77 and its 200 day moving average is $346.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm posted $4.14 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, 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 issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.13%. Cummins’s payout ratio is currently 25.84%.

About Cummins

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.