Poinciana Advisors Group LLC Buys Shares of 709 Cummins Inc. (NYSE:CMI)

Poinciana Advisors Group LLC bought a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 709 shares of the company’s stock, valued at approximately $247,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock worth $1,071,059,000 after purchasing an additional 66,887 shares during the period. FMR LLC grew its holdings in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cummins by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company’s stock worth $342,244,000 after purchasing an additional 120,579 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cummins by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,402 shares of the company’s stock worth $308,303,000 after purchasing an additional 17,687 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CMI shares. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Friday. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Performance

Shares of CMI opened at $322.24 on Friday. The stock has a 50-day simple moving average of $359.39 and a 200-day simple moving average of $346.59. 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 stock has a market capitalization of $44.30 billion, a PE ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1 year low of $261.51 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 EPS. On average, analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

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. This represents a $7.28 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s 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.