Cummins Inc. (NYSE:CMI) Stake Boosted by Evergreen Capital Management LLC

Evergreen Capital Management LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,823 shares of the company’s stock after purchasing an additional 859 shares during the quarter. Evergreen Capital Management LLC’s holdings in Cummins were worth $8,653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC grew its position in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new position in Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its position in shares of Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $28,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 0.6 %

Shares of CMI stock opened at $286.83 on Wednesday. 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 stock has a market cap of $39.51 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The business’s fifty day moving average is $332.32 and its 200-day moving average is $346.31. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 analysts’ expectations of $8.06 billion. During the same period in the previous year, the business earned $4.14 earnings per share. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.54%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CMI shares. Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Robert W. Baird reduced their target price on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Cummins from $375.00 to $308.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $346.50.

Cummins 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.