Signaturefd LLC lifted its position in shares of Cummins Inc. (NYSE:CMI) by 79.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,251 shares of the company’s stock after purchasing an additional 998 shares during the period. Signaturefd LLC’s holdings in Cummins were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new position in shares of Cummins in the fourth quarter worth approximately $26,000. Aigen Investment Management LP acquired a new position in shares of Cummins in the fourth quarter worth approximately $29,000. Allred Capital Management LLC acquired a new position in shares of Cummins in the fourth quarter worth approximately $31,000. Simon Quick Advisors LLC acquired a new position in shares of Cummins in the fourth quarter worth approximately $42,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Cummins by 31.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 258 shares of the company’s stock worth $46,000 after acquiring an additional 61 shares during the period. Institutional investors own 82.98% of the company’s stock.
CMI has been the topic of a number of recent analyst reports. ValuEngine raised Cummins from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Oppenheimer initiated coverage on Cummins in a research note on Tuesday, February 4th. They issued a “hold” rating on the stock. Raymond James initiated coverage on Cummins in a research note on Wednesday, November 27th. They issued a “market perform” rating on the stock. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research note on Friday, November 8th. Finally, Cowen initiated coverage on Cummins in a research note on Wednesday, February 5th. They issued a “hold” rating and a $173.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $183.19.
CMI traded up $0.05 during trading on Friday, hitting $166.15. The company’s stock had a trading volume of 24,879 shares, compared to its average volume of 1,299,795. Cummins Inc. has a twelve month low of $141.14 and a twelve month high of $186.73. The company has a quick ratio of 0.94, a current ratio of 1.50 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $170.59 and its 200-day moving average price is $168.05. The firm has a market capitalization of $24.85 billion, a P/E ratio of 11.52, a PEG ratio of 2.05 and a beta of 1.15.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.14. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.39 billion. Cummins had a return on equity of 26.49% and a net margin of 9.59%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.48 earnings per share. Equities research analysts expect that Cummins Inc. will post 12.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.311 per share. The ex-dividend date is Thursday, February 20th. This represents a $5.24 annualized dividend and a dividend yield of 3.16%. Cummins’s dividend payout ratio is 34.82%.
Cummins announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 7.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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