Larson Financial Group LLC Acquires 81 Shares of Cummins Inc. (NYSE:CMI)

Larson Financial Group LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 3.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,804 shares of the company’s stock after purchasing an additional 81 shares during the quarter. Larson Financial Group LLC’s holdings in Cummins were worth $977,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings 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 valued at $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new stake in shares of Cummins in the fourth quarter worth about $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the third quarter worth about $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of several research analyst reports. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Robert W. Baird lifted their price objective 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. Finally, Evercore ISI upped their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $386.67.

Cummins Stock Down 0.8 %

Shares of NYSE CMI opened at $341.97 on Monday. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The firm has a 50-day simple moving average of $361.77 and a two-hundred day simple moving average of $346.52. The company has a market cap of $47.01 billion, a P/E ratio of 12.14, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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 company 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%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.14 EPS. Research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, February 21st. Cummins’s 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.