Advisor OS LLC Has $861,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

Advisor OS LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 68.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,470 shares of the company’s stock after acquiring an additional 1,008 shares during the period. Advisor OS LLC’s holdings in Cummins were worth $861,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC grew its stake in 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 buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins in the 4th quarter worth approximately $26,000. Compass Financial Services Inc bought 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 valued at $32,000. Finally, Kestra Investment Management LLC bought a new position in Cummins in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.7 %

Shares of NYSE CMI opened at $367.04 on Thursday. The firm has a 50 day moving average price of $361.70 and a 200 day moving average price of $343.49. 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 cap of $50.46 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last posted 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 company’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.14 earnings per share. Analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced 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 1.98%. Cummins’s payout ratio is 25.84%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMI shares. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Robert W. Baird boosted their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and a consensus target price of $386.67.

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.