HighPoint Advisor Group LLC Buys 158 Shares of Cummins Inc. (NYSE:CMI)

HighPoint Advisor Group LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,755 shares of the company’s stock after buying an additional 158 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Cummins were worth $1,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMI. 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 acquiring an additional 28 shares during the last quarter. BankPlus Trust Department bought a new stake in Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its stake in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new stake in shares of Cummins in the fourth quarter worth approximately $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CMI shares. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on shares of Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a research note on Monday. Barclays increased 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. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average target price of $383.67.

Cummins Stock Down 0.3 %

NYSE:CMI opened at $313.11 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market capitalization of $43.05 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.19 and a beta of 1.01. The company’s 50-day simple moving average is $351.11 and its 200-day simple moving average is $348.91. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for 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 business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.14 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share 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 paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.33%. Cummins’s payout ratio is 25.84%.

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.