Vista Capital Partners Inc. Makes New Investment in Cummins Inc. (NYSE:CMI)

Vista Capital Partners Inc. bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,242 shares of the company’s stock, valued at approximately $433,000.

Other large investors have also recently modified their holdings of the company. PFG Investments LLC grew its position in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after acquiring an additional 485 shares during the last quarter. Mariner Investment Group LLC purchased a new stake in shares of Cummins during the 4th quarter worth $1,046,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Cummins during the 3rd quarter worth $748,000. Franklin Resources Inc. lifted its stake in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Cummins by 21.2% during the 3rd quarter. Bank of Montreal Can now owns 391,845 shares of the company’s stock worth $127,898,000 after purchasing an additional 68,627 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly 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 filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Robert W. Baird increased their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Barclays increased their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Finally, Truist Financial raised their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $383.08.

Cummins Price Performance

NYSE:CMI opened at $379.21 on Wednesday. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $52.13 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.13 and a beta of 1.00. The stock’s fifty day moving average is $360.92 and its two-hundred day moving average is $340.50.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm 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 business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 EPS. Equities analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.