TCTC Holdings LLC Acquires New Stake in Cummins Inc. (NYSE:CMI)

TCTC Holdings LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 79 shares of the company’s stock, valued at approximately $28,000.

A number of other large investors have also made changes to their positions in the stock. Global Trust Asset Management LLC boosted its stake 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 during the last quarter. KG&L Capital Management LLC boosted its stake in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Cummins by 0.9% during the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after acquiring an additional 28 shares during the last quarter. Massachusetts Wealth Management boosted its stake in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the last quarter. Finally, Avestar Capital LLC boosted its stake in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent analyst reports. Jefferies Financial Group increased 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. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus target price of $392.64.

Cummins Stock Performance

Cummins stock opened at $326.13 on Tuesday. The stock’s 50-day moving average is $358.75 and its 200-day moving average is $347.28. The company has a market cap of $44.84 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth 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 12 month low of $261.51 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last announced its 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 business had revenue of $8.45 billion for 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%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $4.14 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.23%. Cummins’s payout ratio is currently 25.84%.

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.