1,443 Shares in Cummins Inc. (NYSE:CMI) Purchased by North Forty Two & Co.

North Forty Two & Co. acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,443 shares of the company’s stock, valued at approximately $503,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Claro Advisors LLC acquired a new stake in Cummins during the third quarter worth about $308,000. AMG National Trust Bank purchased a new position in Cummins during the third quarter worth about $219,000. Meeder Advisory Services Inc. boosted its stake in Cummins by 3.8% during the third quarter. Meeder Advisory Services Inc. now owns 4,403 shares of the company’s stock worth $1,426,000 after buying an additional 163 shares during the period. Caprock Group LLC boosted its stake in Cummins by 3.1% during the third quarter. Caprock Group LLC now owns 8,579 shares of the company’s stock worth $2,778,000 after buying an additional 255 shares during the period. Finally, Verity & Verity LLC boosted its stake in Cummins by 1.0% during the third quarter. Verity & Verity LLC now owns 34,640 shares of the company’s stock worth $11,216,000 after buying an additional 357 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Down 1.2 %

Shares of Cummins stock opened at $322.19 on Wednesday. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. The company has a 50 day moving average of $358.00 and a 200 day moving average of $347.35. 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 $44.30 billion, a P/E ratio of 11.44, a P/E/G ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed 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 2.26%. Cummins’s payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the subject of several research analyst reports. Barclays increased their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Citigroup lowered their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial increased their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average price target of $389.50.

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.