Williamson Legacy Group LLC Invests $1.04 Million in Cummins Inc. (NYSE:CMI)

Williamson Legacy Group LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel.com reports. The fund acquired 2,976 shares of the company’s stock, valued at approximately $1,037,000.

Other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its holdings in shares of Cummins by 59.6% during 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 shares of Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins during the 4th quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter worth $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Cummins during the 4th quarter worth $43,000. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CMI. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group boosted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Performance

Cummins stock opened at $367.90 on Friday. 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 firm has a 50-day moving average of $362.32 and a 200-day moving average of $344.17. The firm has a market cap of $50.58 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 1-year low of $260.88 and a 1-year 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 analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the firm earned $4.14 earnings per share. Cummins’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business 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 $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s payout ratio is currently 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.