1,094 Shares in Cummins Inc. $CMI Bought by Empirical Asset Management LLC

Empirical Asset Management LLC bought a new position in Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,094 shares of the company’s stock, valued at approximately $780,000.

Other institutional investors have also modified their holdings of the company. Juno Financial Group LLC bought a new stake in shares of Cummins during the fourth quarter valued at approximately $883,000. Truist Financial Corp grew its holdings in Cummins by 4.8% in the 4th quarter. Truist Financial Corp now owns 64,005 shares of the company’s stock worth $32,671,000 after buying an additional 2,951 shares in the last quarter. Kepler Cheuvreux Suisse SA acquired a new stake in Cummins in the 4th quarter valued at approximately $7,869,000. Westfield Capital Management Co. LP bought a new stake in Cummins during the 4th quarter valued at $7,797,000. Finally, Comprehensive Financial Consultants Institutional Inc. boosted its position in Cummins by 643.0% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,311 shares of the company’s stock worth $3,732,000 after acquiring an additional 6,327 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

NYSE CMI opened at $620.43 on Wednesday. Cummins Inc. has a 1 year low of $389.52 and a 1 year high of $737.76. The business’s fifty day moving average is $664.02 and its two-hundred day moving average is $628.32. The stock has a market capitalization of $85.41 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $6.43 earnings per share. On average, research analysts forecast that Cummins Inc. will post 30.06 earnings per share for the current fiscal year.

Cummins Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $2.20 dividend. This is a positive change from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. Cummins’s dividend payout ratio is 40.88%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group lowered their price target on Cummins from $850.00 to $835.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Robert W. Baird set a $700.00 price objective on shares of Cummins in a report on Wednesday, May 6th. Raymond James Financial increased their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $745.64.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.