Cummins Inc. (NYSE:CMI) Shares Acquired by Huntington National Bank

Huntington National Bank increased its stake in shares of Cummins Inc. (NYSE:CMI) by 59.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,623 shares of the company’s stock after purchasing an additional 4,329 shares during the period. Huntington National Bank’s holdings in Cummins were worth $4,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. RFG Bristol Wealth Advisors LLC acquired a new position in shares of Cummins during the fourth quarter valued at approximately $942,000. Meeder Advisory Services Inc. increased its position in shares of Cummins by 2.3% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,504 shares of the company’s stock worth $1,570,000 after purchasing an additional 101 shares in the last quarter. Headlands Technologies LLC acquired a new position in Cummins in the 4th quarter valued at $69,000. Geode Capital Management LLC lifted its holdings in Cummins by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock valued at $1,174,504,000 after purchasing an additional 84,112 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Cummins by 4.2% during the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company’s stock worth $28,359,000 after purchasing an additional 3,298 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE CMI opened at $320.04 on Thursday. 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 company has a market cap of $44.00 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.19 and a beta of 1.01. The stock has a 50-day moving average of $349.15 and a two-hundred day moving average of $348.80. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 EPS. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS 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 $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.27%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Ratings Changes

CMI has been the subject of a number of recent research reports. Barclays increased their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Citigroup reduced their price objective on Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus target price of $383.67.

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.