Securian Asset Management Inc. Has $2.58 Million Stock Position in Cummins Inc. (NYSE:CMI)

Securian Asset Management Inc. decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,393 shares of the company’s stock after selling 141 shares during the period. Securian Asset Management Inc.’s holdings in Cummins were worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in Cummins during the 4th quarter worth about $26,000. Compass Financial Services Inc acquired a new position in Cummins during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new position in Cummins during the 4th quarter worth about $30,000. Finally, Prospera Private Wealth LLC acquired a new position in Cummins during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $330.64 on Thursday. The stock has a 50-day moving average of $360.73 and a 200-day moving average of $346.75. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a market cap of $45.46 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (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 business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMI shares. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus target price of $386.67.

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.