611 Shares in Cummins Inc. (NYSE:CMI) Acquired by Northern Capital Management Inc.

Northern Capital Management Inc. acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 611 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently made changes to their positions in CMI. Global Trust Asset Management LLC grew its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. KG&L Capital Management LLC grew its position in shares of Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after purchasing an additional 28 shares during the last quarter. Massachusetts Wealth Management grew its position in shares of Cummins by 0.6% in the fourth 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 last quarter. Avestar Capital LLC grew its position in shares of Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after purchasing an additional 31 shares during the last quarter. Finally, Mayflower Financial Advisors LLC grew its position in shares of Cummins by 2.0% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $568,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

CMI opened at $322.24 on Friday. The firm has a market cap of $44.30 billion, a price-to-earnings ratio of 11.44, a PEG 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. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a fifty day simple moving average of $359.39 and a 200 day simple moving average of $346.87.

Cummins (NYSE:CMI) last announced its quarterly earnings data 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. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $4.14 EPS. Equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared 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 was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

CMI has been the topic of several research reports. Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird upped their price objective 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. Truist Financial upped their price objective 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. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $392.64.

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.