528 Shares in Cummins Inc. (NYSE:CMI) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 528 shares of the company’s stock, valued at approximately $184,000.

Several other large investors have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC lifted its stake in Cummins by 59.6% in 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 during the last quarter. BankPlus Trust Department acquired a new stake in Cummins in the fourth quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the fourth quarter valued at $27,000. TCTC Holdings LLC acquired a new stake in Cummins in the fourth quarter valued at $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

CMI stock opened at $321.78 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The firm has a market cap of $44.24 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.19 and a beta of 1.01. The company’s 50-day moving average price is $355.99 and its two-hundred day moving average price is $347.41.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the firm earned $4.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal 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 paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins’s payout ratio is currently 25.84%.

Analysts Set New Price Targets

A number of analysts have commented on CMI shares. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group cut their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Robert W. Baird raised their target price 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. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $389.50.

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.