Cummins Inc. (NYSE:CMI) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of Cummins Inc. (NYSE:CMI) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,149 shares of the company’s stock after purchasing an additional 1,153 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cummins were worth $1,446,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC increased 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 worth $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new stake in Cummins during the fourth quarter worth about $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new position in shares of Cummins in the 4th quarter valued at about $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 3.0 %

CMI stock opened at $322.24 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $359.39 and a 200-day simple moving average of $346.87. The company has a market capitalization of $44.30 billion, a P/E ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The company 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 firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $4.14 EPS. On average, equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMI. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Friday. 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 report on Thursday, January 16th. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $392.64.

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.