Cummins Inc. (NYSE:CMI) Stock Holdings Boosted by Davidson Trust Co.

Davidson Trust Co. grew its position in shares of Cummins Inc. (NYSE:CMI) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,943 shares of the company’s stock after purchasing an additional 51 shares during the period. Davidson Trust Co.’s holdings in Cummins were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new position in Cummins in the fourth quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new position in Cummins in the third quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new position in shares of Cummins in the 4th quarter worth $43,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the 3rd quarter worth $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by company insiders.

Cummins Trading Up 1.2 %

NYSE CMI opened at $373.71 on Tuesday. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $51.27 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm’s fifty day simple moving average is $361.09 and its 200-day simple moving average is $339.39.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm posted $4.14 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid 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 1.95%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMI. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus target price of $383.08.

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.