Wealth Dimensions Group Ltd. Invests $241,000 in Cummins Inc. (NYSE:CMI)

Wealth Dimensions Group Ltd. 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 691 shares of the company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Resource Group raised its position in shares of Cummins by 1.0% during the 3rd quarter. Advisory Resource Group now owns 15,328 shares of the company’s stock valued at $4,963,000 after buying an additional 155 shares during the period. SkyView Investment Advisors LLC raised its position in Cummins by 3.9% in the third quarter. SkyView Investment Advisors LLC now owns 5,334 shares of the company’s stock valued at $1,727,000 after purchasing an additional 202 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in shares of Cummins by 1.8% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,089 shares of the company’s stock valued at $1,648,000 after purchasing an additional 88 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Cummins during the 3rd quarter worth $209,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Cummins by 18.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,990 shares of the company’s stock worth $1,616,000 after purchasing an additional 794 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CMI. Citigroup decreased their target price on shares of Cummins from $360.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered shares of Cummins from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Robert W. Baird dropped their target price on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Bank of America upgraded 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. Finally, Morgan Stanley dropped their price objective on Cummins from $425.00 to $340.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $346.00.

Cummins Stock Performance

Shares of Cummins stock opened at $281.37 on Monday. The business has a 50-day simple moving average of $326.83 and a 200-day simple moving average of $345.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The company has a market cap of $38.76 billion, a PE ratio of 9.99, a P/E/G ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI) last announced 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 company 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 company’s quarterly 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, equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared 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. This represents a $7.28 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 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.