Integras Partners LLC Purchases Shares of 8,143 Cummins Inc. (NYSE:CMI)

Integras Partners LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, Holdings Channel.com reports. The fund purchased 8,143 shares of the company’s stock, valued at approximately $2,839,000. Cummins comprises about 2.4% of Integras Partners LLC’s portfolio, making the stock its 12th largest holding.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the 3rd quarter worth $55,000. Victory Capital Management Inc. increased its holdings in shares of Cummins by 25.4% during the 3rd quarter. Victory Capital Management Inc. now owns 217,689 shares of the company’s stock worth $70,486,000 after buying an additional 44,027 shares during the last quarter. Haverford Trust Co increased its holdings in shares of Cummins by 6.2% during the 3rd quarter. Haverford Trust Co now owns 1,740 shares of the company’s stock worth $563,000 after buying an additional 102 shares during the last quarter. Main Street Financial Solutions LLC boosted its position in Cummins by 38.0% during the 3rd quarter. Main Street Financial Solutions LLC now owns 1,879 shares of the company’s stock worth $608,000 after purchasing an additional 517 shares during the period. Finally, Curi RMB Capital LLC purchased a new stake in Cummins during the 3rd quarter worth $243,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Performance

NYSE:CMI opened at $312.65 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a 50-day moving average of $360.03 and a two-hundred day moving average of $346.51. The stock has a market cap of $42.98 billion, a P/E ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1-year low of $260.88 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the company posted $4.14 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given 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 2.33%. Cummins’s payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of 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. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird upped their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Bank of America raised 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. Finally, StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $386.67.

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.