Weaver C. Barksdale & Associates Inc. Has $2.45 Million Stock Position in Cummins Inc. (NYSE:CMI)

Weaver C. Barksdale & Associates Inc. cut its position in Cummins Inc. (NYSE:CMI) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,015 shares of the company’s stock after selling 173 shares during the quarter. Cummins comprises about 2.3% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 4th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Cummins were worth $2,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Ausdal Financial Partners Inc. acquired a new position in shares of Cummins during the 4th quarter worth approximately $209,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Cummins by 8.4% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,131 shares of the company’s stock valued at $1,789,000 after buying an additional 396 shares during the period. PKS Advisory Services LLC bought a new position in Cummins during the 4th quarter worth $510,000. Princeton Capital Management LLC acquired a new position in Cummins in the 4th quarter valued at $205,000. Finally, Modern Wealth Management LLC bought a new stake in shares of Cummins during the 4th quarter valued at $208,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CMI shares. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 report on Wednesday, February 5th. UBS Group cut their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Down 0.2 %

Shares of NYSE CMI opened at $330.57 on Wednesday. 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. The company has a 50 day simple moving average of $354.72 and a 200 day simple moving average of $348.24. The firm has a market cap of $45.45 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

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

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.