Cummins Inc. (NYSE:CMI) Shares Purchased by MONECO Advisors LLC

MONECO Advisors LLC increased its position in Cummins Inc. (NYSE:CMI) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,816 shares of the company’s stock after acquiring an additional 39 shares during the period. MONECO Advisors LLC’s holdings in Cummins were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its stake 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 worth $26,000 after purchasing an additional 28 shares during the last quarter. Compass Financial Services Inc acquired a new position in Cummins in the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in Cummins during the 3rd quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new stake in Cummins during the 4th quarter valued at approximately $43,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

CMI opened at $366.79 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52-week low of $259.06 and a 52-week high of $387.90. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.19 and a beta of 1.00. The firm’s fifty day simple moving average is $361.51 and its two-hundred day simple moving average is $342.40.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the firm earned $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. Cummins’s payout ratio is 25.84%.

Wall Street Analyst Weigh In

CMI has been the subject of a number of research reports. Barclays boosted 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. Robert W. Baird upped their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $386.67.

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.