Hickory Point Bank & Trust Invests $606,000 in Cummins Inc. (NYSE:CMI)

Hickory Point Bank & Trust purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,737 shares of the company’s stock, valued at approximately $606,000.

Several other institutional investors have also modified their holdings of the stock. Providence First Trust Co purchased a new position in shares of Cummins during the 4th quarter worth $35,000. Williamson Legacy Group LLC purchased a new position in shares of Cummins during the 4th quarter worth $1,037,000. Noble Wealth Management PBC purchased a new position in shares of Cummins during the 4th quarter worth $73,000. Fisher Asset Management LLC raised its holdings in shares of Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock worth $1,071,059,000 after acquiring an additional 66,887 shares during the period. Finally, Noesis Capital Mangement Corp raised its holdings in shares of Cummins by 0.3% during the 4th quarter. Noesis Capital Mangement Corp now owns 35,948 shares of the company’s stock worth $12,531,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of several research analyst reports. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Citigroup dropped their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $386.67.

Cummins Stock Performance

Shares of Cummins stock opened at $367.90 on Friday. The stock’s fifty day simple moving average is $362.32 and its 200 day simple moving average is $344.54. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a market capitalization of $50.58 billion, a PE ratio of 13.06, a PEG ratio of 2.19 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the company earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.