Cummins Inc. (NYSE:CMI) Shares Purchased by NewSquare Capital LLC

NewSquare Capital LLC raised its stake in Cummins Inc. (NYSE:CMI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,388 shares of the company’s stock after purchasing an additional 609 shares during the quarter. Cummins comprises approximately 1.0% of NewSquare Capital LLC’s holdings, making the stock its 27th biggest holding. NewSquare Capital LLC’s holdings in Cummins were worth $12,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR increased its position in shares of Cummins by 12.9% during the third quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock worth $405,000 after acquiring an additional 143 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Cummins by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 2,467 shares of the company’s stock worth $799,000 after acquiring an additional 288 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Cummins by 17.3% in the third quarter. Chicago Partners Investment Group LLC now owns 1,078 shares of the company’s stock valued at $356,000 after acquiring an additional 159 shares during the period. Van ECK Associates Corp grew its holdings in shares of Cummins by 11.0% during the third quarter. Van ECK Associates Corp now owns 25,158 shares of the company’s stock valued at $8,301,000 after purchasing an additional 2,494 shares during the last quarter. Finally, National Pension Service raised its position in shares of Cummins by 7.7% during the 3rd quarter. National Pension Service now owns 224,110 shares of the company’s stock worth $72,565,000 after purchasing an additional 16,061 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMI. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Vertical Research cut 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. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Barclays raised their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Price Performance

Shares of NYSE:CMI opened at $347.35 on Wednesday. The stock has a market cap of $47.75 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.19 and a beta of 1.00. 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 12 month low of $260.88 and a 12 month high of $387.90. The stock’s 50 day moving average price is $362.28 and its 200 day moving average price is $345.62.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the business earned $4.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.10%. 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.