Sfmg LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

Sfmg LLC bought a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 938 shares of the company’s stock, valued at approximately $327,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins during the fourth quarter worth approximately $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins during the fourth quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins during the 4th quarter worth $30,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays boosted their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Citigroup dropped their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. UBS Group reduced 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. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Robert W. Baird raised their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $389.50.

Cummins Price Performance

Shares of CMI stock opened at $321.78 on Friday. The firm has a market capitalization of $44.24 billion, a price-to-earnings ratio of 11.42, 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 quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $355.99 and a 200-day moving average of $347.41.

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

Cummins Announces Dividend

The business also recently announced 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 of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

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.