HighPoint Advisor Group LLC Purchases 158 Shares of Cummins Inc. (NYSE:CMI)

HighPoint Advisor Group LLC raised its position in Cummins Inc. (NYSE:CMI) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,755 shares of the company’s stock after acquiring an additional 158 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Cummins were worth $1,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMI. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department bought a new position in Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the 4th quarter worth $27,000. Meeder Asset Management Inc. grew its position in shares of Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC purchased a new stake in shares of Cummins in the 4th quarter worth $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 0.3 %

Shares of CMI stock opened at $313.11 on Tuesday. 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 capitalization of $43.05 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The stock’s 50-day moving average price is $351.11 and its 200-day moving average price is $348.91.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the firm earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.33%. Cummins’s payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMI. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group cut their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. decreased their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $383.67.

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.