Catalyst Capital Advisors LLC Buys 1,850 Shares of Cummins Inc. (NYSE:CMI)

Catalyst Capital Advisors LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,770 shares of the company’s stock after buying an additional 1,850 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Cummins were worth $3,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Americana Partners LLC increased its position in Cummins by 9.5% during the 4th quarter. Americana Partners LLC now owns 2,773 shares of the company’s stock valued at $967,000 after purchasing an additional 241 shares during the period. Monument Capital Management purchased a new position in Cummins during the 4th quarter valued at about $216,000. J.W. Cole Advisors Inc. increased its position in Cummins by 3.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,398 shares of the company’s stock valued at $1,185,000 after purchasing an additional 99 shares during the period. Valmark Advisers Inc. increased its position in Cummins by 21.0% during the 4th quarter. Valmark Advisers Inc. now owns 854 shares of the company’s stock valued at $298,000 after purchasing an additional 148 shares during the period. Finally, WD Rutherford LLC increased its position in Cummins by 3.2% during the 4th quarter. WD Rutherford LLC now owns 10,074 shares of the company’s stock valued at $3,512,000 after purchasing an additional 309 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.2 %

NYSE:CMI opened at $373.71 on Monday. The company has a market cap of $51.27 billion, a PE ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $361.09 and its two-hundred day moving average is $339.06.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for 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%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.14 EPS. Analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup cut their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, Truist Financial lifted their price objective 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. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $383.08.

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.