4,116 Shares in Cummins Inc. (NYSE:CMI) Acquired by Allstate Corp

Allstate Corp purchased a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,116 shares of the company’s stock, valued at approximately $1,435,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC increased its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new stake in Cummins in the fourth quarter valued at $26,000. Compass Financial Services Inc bought a new stake in Cummins in the fourth quarter valued at $27,000. TCTC Holdings LLC acquired a new position in shares of Cummins during the fourth quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cummins during the 4th quarter worth about $30,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Cummins stock opened at $313.45 on Monday. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The company’s 50 day moving average price is $352.17 and its two-hundred day moving average price is $348.80. The stock has a market cap of $43.09 billion, a P/E ratio of 11.13, 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.

Cummins (NYSE:CMI) last issued its quarterly 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the company posted $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.32%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CMI shares. UBS Group dropped their price target on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus target price of $389.50.

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.