Hobbs Group Advisors LLC Raises Position in Cummins Inc. (NYSE:CMI)

Hobbs Group Advisors LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 82.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,795 shares of the company’s stock after purchasing an additional 1,716 shares during the period. Hobbs Group Advisors LLC’s holdings in Cummins were worth $1,323,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department acquired a new stake in shares of Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins in the 4th quarter worth $27,000. TCTC Holdings LLC acquired a new position in Cummins in the fourth quarter valued at $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins during the fourth quarter worth about $30,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMI has been the topic of several research analyst reports. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup decreased their price objective 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. Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. 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. Finally, Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

Cummins stock opened at $313.45 on Friday. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market cap of $43.09 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The stock has a 50 day moving average of $352.17 and a 200-day moving average of $348.05.

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

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is currently 25.84%.

About Cummins

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.