Cozad Asset Management Inc. Acquires 100 Shares of Cummins Inc. (NYSE:CMI)

Cozad Asset Management Inc. grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,493 shares of the company’s stock after buying an additional 100 shares during the period. Cozad Asset Management Inc.’s holdings in Cummins were worth $1,218,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CMI shares. 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 note on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Truist Financial upped their price target 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. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus target price of $392.64.

Cummins Price Performance

CMI opened at $326.13 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market capitalization of $44.84 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.19 and a beta of 1.01. The company’s 50-day simple moving average is $358.75 and its two-hundred day simple moving average is $347.28. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90.

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

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend 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.