Ausdal Financial Partners Inc. Purchases New Shares in Cummins Inc. (NYSE:CMI)

Ausdal Financial Partners Inc. acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel reports. The firm acquired 601 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMI. Global Trust Asset Management LLC increased its position 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 acquiring an additional 28 shares during the period. BankPlus Trust Department acquired a new position in shares of Cummins during the 4th quarter worth approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter worth approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Cummins in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CMI shares. Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. UBS Group dropped their price target on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Evercore ISI increased their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group boosted 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. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

Shares of Cummins stock opened at $313.45 on Friday. The business has a 50-day simple moving average of $352.17 and a 200 day simple moving average of $348.05. The firm has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.13, 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 Inc. has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm earned $4.14 earnings per share. Cummins’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend 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.