Cummins Inc. (NYSE:CMI) Shares Bought by Colonial River Investments LLC

Colonial River Investments LLC raised its stake in Cummins Inc. (NYSE:CMI) by 6.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,974 shares of the company’s stock after purchasing an additional 127 shares during the period. Colonial River Investments LLC’s holdings in Cummins were worth $688,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its holdings 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 valued at $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Cummins during the 4th quarter valued at $27,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter valued at $32,000. Kestra Investment Management LLC acquired a new position in shares of Cummins during the 4th quarter valued at $43,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

CMI opened at $366.79 on Monday. The company has a 50-day moving average of $361.51 and a 200-day moving average of $342.40. The company has a market capitalization of $50.43 billion, a P/E ratio of 13.02, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

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 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 company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.14 EPS. Equities analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

Analysts Set New Price Targets

Several research firms recently weighed in on CMI. Evercore ISI lifted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Citigroup reduced their target price 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. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Barclays lifted their price target 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. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Company 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.