Cummins Inc. (NYSE:CMI) Position Boosted by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. grew its position in Cummins Inc. (NYSE:CMI) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,342 shares of the company’s stock after buying an additional 59 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Cummins were worth $1,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMI. Summit Global Investments acquired a new position in shares of Cummins in the third quarter worth about $206,000. Leavell Investment Management Inc. acquired a new stake in shares of Cummins during the third quarter worth approximately $222,000. Equitable Trust Co. boosted its holdings in shares of Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares during the period. Assetmark Inc. boosted its holdings in shares of Cummins by 3.1% during the third quarter. Assetmark Inc. now owns 17,937 shares of the company’s stock worth $5,808,000 after purchasing an additional 533 shares during the period. Finally, Kerusso Capital Management LLC boosted its holdings in shares of Cummins by 6.4% during the third quarter. Kerusso Capital Management LLC now owns 5,521 shares of the company’s stock worth $1,788,000 after purchasing an additional 332 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays raised their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird raised their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Cummins has an average rating of “Hold” and an average price target of $386.67.

Cummins Trading Down 0.8 %

NYSE:CMI opened at $341.97 on Monday. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The firm has a market cap of $47.01 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $361.77 and its 200-day moving average is $346.52.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.14 earnings per share. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.13%. Cummins’s payout ratio is 25.84%.

Cummins Company 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.