Crestwood Advisors Group LLC Boosts Holdings in Cummins Inc. (NYSE:CMI)

Crestwood Advisors Group LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,930 shares of the company’s stock after buying an additional 125 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Cummins were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Cummins by 12.9% during the fourth quarter. IFP Advisors Inc now owns 3,417 shares of the company’s stock worth $1,191,000 after buying an additional 390 shares during the period. Colonial River Investments LLC boosted its stake in Cummins by 6.9% during the fourth quarter. Colonial River Investments LLC now owns 1,974 shares of the company’s stock worth $688,000 after buying an additional 127 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Cummins during the fourth quarter worth $2,533,000. Black Diamond Financial LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $237,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Cummins during the fourth quarter valued at $6,284,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Evercore ISI boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Stock Performance

Shares of Cummins stock opened at $360.91 on Wednesday. The company has a market capitalization of $49.62 billion, a PE ratio of 12.81, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a 50-day simple moving average of $361.37 and a two-hundred day simple moving average of $343.32. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion during 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 was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.14 earnings per share. Research analysts expect 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 will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.02%. Cummins’s dividend payout ratio is presently 25.84%.

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.