Elo Mutual Pension Insurance Co Boosts Stock Position in Cummins Inc. (NYSE:CMI)

Elo Mutual Pension Insurance Co raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,184 shares of the company’s stock after purchasing an additional 2,110 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cummins were worth $4,945,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. UBS Group decreased their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

Shares of CMI opened at $323.93 on Friday. The firm has a market capitalization of $44.53 billion, a P/E ratio of 11.50, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The business has a fifty day moving average of $353.22 and a 200 day moving average of $347.93.

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. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.14 EPS. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 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.