Amalgamated Bank Boosts Stock Position in Cummins Inc. (NYSE:CMI)

Amalgamated Bank boosted its position in shares of Cummins Inc. (NYSE:CMI) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 30,208 shares of the company’s stock after purchasing an additional 872 shares during the period. Amalgamated Bank’s holdings in Cummins were worth $10,531,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in Cummins during the 4th quarter worth approximately $26,000. Compass Financial Services Inc acquired a new stake in Cummins during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $32,000. Finally, Kestra Investment Management LLC purchased a new position in Cummins in the 4th quarter valued at approximately $43,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMI. 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 report on Wednesday, February 5th. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Barclays boosted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Truist Financial raised their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Stock Up 0.1 %

Shares of NYSE:CMI opened at $360.91 on Wednesday. The firm has a 50 day simple moving average of $361.37 and a 200-day simple moving average of $343.32. Cummins Inc. has a twelve month low of $260.88 and a twelve month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $49.62 billion, a PE ratio of 12.81, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share 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 net margin of 11.57% and a return on equity of 27.12%. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.14 earnings per share. On average, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. Cummins’s dividend payout ratio is presently 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.