RFG Bristol Wealth Advisors LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

RFG Bristol Wealth Advisors LLC bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, HoldingsChannel.com reports. The fund bought 2,701 shares of the company’s stock, valued at approximately $942,000.

Other institutional investors also recently modified their holdings of the company. 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 in the last quarter. BankPlus Trust Department acquired a new position in Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc bought a new position in Cummins in the 4th quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in shares of Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 52 shares during the period. Finally, TCTC Holdings LLC bought a new stake in shares of Cummins during the fourth quarter worth $28,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 0.5 %

CMI opened at $315.09 on Wednesday. The firm’s fifty day moving average is $350.07 and its two-hundred day moving average is $349.00. The firm has a market cap of $43.32 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a twelve month low of $261.51 and a twelve month 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.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business 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 revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 EPS. Equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup decreased their price target on Cummins from $430.00 to $360.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced 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. UBS Group lowered their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird lifted their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $383.67.

About Cummins

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.