Callan Family Office LLC Buys New Shares in Cummins Inc. (NYSE:CMI)

Callan Family Office LLC purchased a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,328 shares of the company’s stock, valued at approximately $463,000.

Other large investors have also bought and sold shares of the company. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. KG&L Capital Management LLC lifted its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management boosted its holdings in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after purchasing an additional 30 shares during the period. Avestar Capital LLC grew its position in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after purchasing an additional 31 shares in the last quarter. Finally, Equitable Trust Co. increased its holdings in shares of Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

Cummins stock opened at $341.97 on Monday. Cummins Inc. has a 1-year low of $260.88 and a 1-year high of $387.90. The firm has a market cap of $47.01 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $361.77 and a 200-day moving average of $346.52.

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

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.13%. Cummins’s dividend payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMI shares. Barclays boosted their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. 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. 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 research note on Wednesday, February 5th. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $386.67.

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.