2,990 Shares in Cummins Inc. (NYSE:CMI) Bought by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,990 shares of the company’s stock, valued at approximately $1,042,000. Cummins comprises approximately 0.9% of Crowley Wealth Management Inc.’s investment portfolio, making the stock its 25th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Cummins during the 4th quarter valued at $187,082,000. Vanguard Group Inc. raised its stake in Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after purchasing an additional 250,650 shares during the period. Proficio Capital Partners LLC purchased a new stake in Cummins in the 4th quarter worth about $71,279,000. Amundi grew its position in Cummins by 32.3% during the fourth quarter. Amundi now owns 771,038 shares of the company’s stock valued at $277,381,000 after purchasing an additional 188,254 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after acquiring an additional 165,398 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 1.1 %

CMI opened at $321.78 on Friday. The firm has a market capitalization of $44.24 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The company’s 50 day moving average price is $355.99 and its two-hundred day moving average price is $347.41.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate 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 return on equity of 27.12% and a net margin of 11.57%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.14 EPS. As a group, research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.26%. Cummins’s dividend payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMI. Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Evercore ISI increased their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, 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 report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $389.50.

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.