Coldstream Capital Management Inc. Purchases 61 Shares of Cummins Inc. (NYSE:CMI)

Coldstream Capital Management Inc. boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,612 shares of the company’s stock after purchasing an additional 61 shares during the period. Coldstream Capital Management Inc.’s holdings in Cummins were worth $911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Capital Analysts LLC lifted its position in Cummins by 16.0% during the fourth quarter. Capital Analysts LLC now owns 781 shares of the company’s stock valued at $272,000 after purchasing an additional 108 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of Cummins by 1.9% in the fourth quarter. Hancock Whitney Corp now owns 39,359 shares of the company’s stock valued at $13,721,000 after acquiring an additional 729 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Cummins by 21.0% in the fourth quarter. Voya Investment Management LLC now owns 495,407 shares of the company’s stock valued at $172,699,000 after acquiring an additional 85,865 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Cummins by 2.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 7,820 shares of the company’s stock valued at $2,726,000 after acquiring an additional 167 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Cummins by 108.3% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 128,166 shares of the company’s stock valued at $44,679,000 after buying an additional 66,646 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CMI shares. Barclays increased their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Evercore ISI increased their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Truist Financial reduced their price objective on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group downgraded Cummins from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $346.00.

Cummins Stock Performance

Shares of Cummins stock opened at $294.24 on Tuesday. The company has a market capitalization of $40.53 billion, a PE ratio of 10.45, a P/E/G ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a 50-day simple moving average of $316.28 and a two-hundred day simple moving average of $343.60. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly 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 business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.47%. Cummins’s dividend 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.