Cummins Inc. (NYSE:CMI) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 13.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 726 shares of the company’s stock after acquiring an additional 84 shares during the period. EverSource Wealth Advisors LLC’s holdings in Cummins were worth $253,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms recently issued reports on CMI. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Robert W. Baird upped their price target 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. Evercore ISI raised their price objective 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. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Friday. Finally, Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $392.64.

Cummins Stock Up 3.0 %

Cummins stock opened at $322.24 on Friday. The stock’s 50 day moving average price is $359.39 and its 200 day moving average price is $346.87. The company has a market cap of $44.30 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 1-year low of $261.51 and a 1-year high of $387.90.

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, beating 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 posted $4.14 EPS. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS 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 paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 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.