DMKC Advisory Services LLC Buys Shares of 5,674 Cummins Inc. (NYSE:CMI)

DMKC Advisory Services LLC bought a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,674 shares of the company’s stock, valued at approximately $1,978,000. Cummins accounts for 1.8% of DMKC Advisory Services LLC’s portfolio, making the stock its 21st biggest holding.

Other large investors also recently modified their holdings of the company. Global Trust Asset Management LLC grew its position 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 valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new position in Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $43,000. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Bank of America upgraded shares of 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 report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $386.67.

Cummins Stock Performance

Shares of NYSE CMI opened at $360.91 on Wednesday. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a fifty day moving average price of $361.37 and a two-hundred day moving average price of $343.32. The firm has a market cap of $49.62 billion, a P/E ratio of 12.81, a PEG ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business posted $4.14 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. 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.