Enhancing Capital LLC Acquires Shares of 7,030 Cummins Inc. (NYSE:CMI)

Enhancing Capital LLC acquired a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,030 shares of the company’s stock, valued at approximately $2,451,000. Cummins comprises approximately 2.0% of Enhancing Capital LLC’s portfolio, making the stock its 14th biggest position.

Several other hedge funds also recently bought and sold shares of the business. Global Trust Asset Management LLC lifted its holdings 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 buying an additional 28 shares during the period. KG&L Capital Management LLC lifted its holdings in shares of 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 buying an additional 28 shares during the period. Signaturefd LLC lifted its holdings in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after buying an additional 28 shares during the period. Massachusetts Wealth Management lifted its holdings in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after buying an additional 30 shares during the period. Finally, Avestar Capital LLC lifted its holdings in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after buying an additional 31 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.4 %

Cummins stock opened at $326.13 on Tuesday. The stock has a 50-day moving average of $358.75 and a two-hundred day moving average of $347.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The stock has a market cap of $44.84 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $4.14 earnings per share. On average, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Analyst Ratings Changes

CMI has been the subject of several research reports. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Robert W. Baird upped their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $392.64.

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.