BankPlus Trust Department Purchases Shares of 75 Cummins Inc. (NYSE:CMI)

BankPlus Trust Department acquired a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 75 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also made changes to their positions in the business. Global Trust Asset Management LLC raised its position in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the 3rd quarter valued at about $32,000. Kestra Investment Management LLC acquired a new position in Cummins during the 4th quarter worth approximately $43,000. Finally, Friedenthal Financial acquired a new stake in Cummins in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $360.91 on Wednesday. The company has a market cap of $49.62 billion, a PE ratio of 12.81, a P/E/G ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The company has a fifty day moving average price of $361.37 and a two-hundred day moving average price of $343.32. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

CMI has been the subject of several analyst reports. Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group raised their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $386.67.

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.