Oarsman Capital Inc. Raises Stock Holdings in Cummins Inc. (NYSE:CMI)

Oarsman Capital Inc. grew its stake in shares of Cummins Inc. (NYSE:CMI) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,379 shares of the company’s stock after acquiring an additional 496 shares during the quarter. Oarsman Capital Inc.’s holdings in Cummins were worth $1,527,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mariner Investment Group LLC purchased a new stake in shares of Cummins during the 4th quarter valued at about $1,046,000. Franklin Resources Inc. increased its holdings in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Cummins by 133.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,798 shares of the company’s stock worth $2,021,000 after acquiring an additional 3,314 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Cummins by 296.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock worth $4,128,000 after acquiring an additional 8,851 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Cummins by 2.0% in the 4th quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock worth $38,481,000 after purchasing an additional 2,211 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Down 5.9 %

CMI stock opened at $277.82 on Friday. The firm has a fifty day moving average price of $345.89 and a 200 day moving average price of $348.27. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The firm has a market cap of $38.19 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS 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 analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. Sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business 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 2.62%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent research reports. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $383.67.

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.