Cummins Inc. (NYSE:CMI) Shares Bought by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,196 shares of the company’s stock after buying an additional 747 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Cummins were worth $1,936,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department acquired a new position in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins in the 4th quarter worth $27,000. Meeder Asset Management Inc. boosted its holdings in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in shares of Cummins during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reduced their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Barclays upped their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price objective on shares of Cummins from $430.00 to $360.00 and set a “buy” rating for the company in a research note on Monday. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and an average target price of $383.67.

Cummins Stock Performance

Cummins stock opened at $315.09 on Wednesday. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The company has a market capitalization of $43.32 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.19 and a beta of 1.01. The stock has a fifty day moving average of $350.07 and a two-hundred day moving average of $349.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm 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 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.31%. 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.