Glenview Trust co lessened its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,219 shares of the company’s stock after selling 33 shares during the period. Glenview Trust co’s holdings in Cummins were worth $1,122,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in CMI. Raymond James Financial Inc. bought a new position in Cummins during the 4th quarter worth about $187,082,000. Proficio Capital Partners LLC bought a new position in shares of Cummins in the 4th quarter valued at about $71,279,000. Amundi grew its holdings in shares of Cummins by 32.3% in the 4th quarter. Amundi now owns 771,038 shares of the company’s stock valued at $277,381,000 after acquiring an additional 188,254 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.
Cummins Trading Up 1.4 %
Shares of CMI stock opened at $326.13 on Tuesday. The firm has a 50 day moving average price of $358.75 and a two-hundred day moving average price of $347.28. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $44.84 billion, a PE ratio of 11.58, 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.
Cummins Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.23%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on CMI shares. Truist Financial raised their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $392.64.
View Our Latest Stock Analysis on Cummins
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.
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