Knights of Columbus Asset Advisors LLC Buys 391 Shares of Cummins Inc. (NYSE:CMI)

Knights of Columbus Asset Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,092 shares of the company’s stock after buying an additional 391 shares during the period. Cummins accounts for 0.8% of Knights of Columbus Asset Advisors LLC’s portfolio, making the stock its 26th largest position. Knights of Columbus Asset Advisors LLC’s holdings in Cummins were worth $12,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CMI. Raymond James Financial Inc. bought a new position in Cummins in the fourth quarter worth about $187,082,000. Proficio Capital Partners LLC bought a new position in Cummins in the fourth quarter worth about $71,279,000. Amundi raised its stake in Cummins by 32.3% in the fourth quarter. Amundi now owns 771,038 shares of the company’s stock worth $277,381,000 after buying an additional 188,254 shares in the last quarter. Fisher Asset Management LLC raised its stake in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares in the last quarter. Finally, State Street Corp grew its holdings in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 1.1 %

Shares of CMI opened at $321.78 on Friday. The business’s 50 day moving average is $355.99 and its 200 day moving average is $347.12. The company has a market capitalization of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company 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 firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $4.14 EPS. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Wall Street Analyst Weigh In

CMI has been the subject of several recent research reports. Citigroup lowered their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Robert W. Baird lifted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a report on Tuesday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $389.50.

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.