1,462 Shares in Cummins Inc. (NYSE:CMI) Purchased by PKS Advisory Services LLC

PKS Advisory Services LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,462 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. KG&L Capital Management LLC boosted its holdings in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares in the last quarter. Signaturefd LLC grew its position in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after buying an additional 28 shares during the period. Massachusetts Wealth Management increased its stake in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares in the last quarter. Finally, Avestar Capital LLC lifted its position in Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CMI. Evercore ISI upped their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the stock 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. UBS Group dropped their target price on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $389.50.

Cummins Trading Down 0.2 %

Shares of NYSE:CMI opened at $330.57 on Wednesday. The stock has a 50 day moving average of $354.72 and a 200 day moving average of $348.24. The company has a market cap of $45.45 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last posted 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. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.14 earnings per share. As a group, equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued 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 yield of 2.20%. Cummins’s dividend 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.