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

Bellwether Advisors LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 137 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Cummins in the 4th quarter worth approximately $36,093,000. Virtus ETF Advisers LLC boosted its stake in shares of Cummins by 12.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,438 shares of the company’s stock worth $1,198,000 after buying an additional 389 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Cummins by 2.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,612 shares of the company’s stock valued at $911,000 after purchasing an additional 61 shares during the last quarter. Capital Analysts LLC grew its holdings in Cummins by 16.0% during the fourth quarter. Capital Analysts LLC now owns 781 shares of the company’s stock valued at $272,000 after purchasing an additional 108 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Cummins by 1.9% in the fourth quarter. Hancock Whitney Corp now owns 39,359 shares of the company’s stock valued at $13,721,000 after buying an additional 729 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

NYSE:CMI opened at $294.24 on Tuesday. The business has a 50 day moving average of $316.28 and a 200 day moving average of $343.60. The company has a market capitalization of $40.53 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. 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 (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 EPS. On average, sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.47%. Cummins’s payout ratio is 25.84%.

Analyst Upgrades and Downgrades

CMI has been the subject of several recent research reports. Citigroup decreased their price objective on Cummins from $360.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on Cummins from $375.00 to $308.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley decreased their price objective on Cummins from $425.00 to $340.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Robert W. Baird decreased their price objective on Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $346.00.

Cummins 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.