Sigma Planning Corp Raises Position in Cummins Inc. (NYSE:CMI)

Sigma Planning Corp raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,019 shares of the company’s stock after buying an additional 184 shares during the period. Sigma Planning Corp’s holdings in Cummins were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC lifted its stake 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 valued at $26,000 after acquiring an additional 28 shares during the last quarter. Compass Financial Services Inc purchased a new position in Cummins in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC bought a new stake in Cummins in the third quarter valued at approximately $32,000. Kestra Investment Management LLC purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $43,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $55,000. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Evercore ISI raised their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Finally, Citigroup dropped their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average target price of $386.67.

Cummins Trading Up 0.1 %

CMI opened at $360.91 on Wednesday. The stock has a market cap of $49.62 billion, a PE ratio of 12.81, a PEG ratio of 2.19 and a beta of 1.00. The business has a 50 day moving average of $361.37 and a 200-day moving average of $343.32. Cummins Inc. has a 52 week low of $260.88 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.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) 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.