Northern Capital Management Inc. Takes Position in Cummins Inc. (NYSE:CMI)

Northern Capital Management Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 611 shares of the company’s stock, valued at approximately $213,000.

Other large investors have also recently made changes to their positions in the company. Mariner Investment Group LLC purchased a new stake in shares of Cummins during the 4th quarter worth about $1,046,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Cummins during the 3rd quarter worth about $748,000. Franklin Resources Inc. boosted its stake in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after acquiring an additional 68,627 shares in the last quarter. Finally, Hancock Whitney Corp boosted its stake in shares of Cummins by 545.1% during the 3rd quarter. Hancock Whitney Corp now owns 38,630 shares of the company’s stock worth $12,508,000 after acquiring an additional 32,642 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CMI shares. Barclays increased their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $392.64.

Cummins Stock Up 3.0 %

CMI stock opened at $322.24 on Friday. The company has a market cap of $44.30 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. 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 Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The firm has a 50-day moving average of $359.39 and a two-hundred day moving average of $346.87.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) 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 the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 EPS. As a group, analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. 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.