Cummins Inc. (NYSE:CMI) is Pring Turner Capital Group Inc.’s 5th Largest Position

Pring Turner Capital Group Inc. cut its holdings in Cummins Inc. (NYSE:CMI) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,911 shares of the company’s stock after selling 145 shares during the quarter. Cummins accounts for approximately 3.9% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 5th largest position. Pring Turner Capital Group Inc.’s holdings in Cummins were worth $5,895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after purchasing an additional 126,703 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after buying an additional 2,523,854 shares during the period. FMR LLC boosted its stake in Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after buying an additional 9,245 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cummins by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 866,715 shares of the company’s stock worth $280,634,000 after buying an additional 6,608 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Down 1.8 %

Shares of CMI opened at $360.44 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 firm has a fifty day moving average price of $361.38 and a 200-day moving average price of $342.85. The firm has a market capitalization of $49.55 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90.

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

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. Cummins’s payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMI. 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 note on Thursday, January 16th. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $386.67.

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.