Aptus Capital Advisors LLC Has $1.77 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Aptus Capital Advisors LLC raised its stake in Cummins Inc. (NYSE:CMI - Free Report) by 341.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,071 shares of the company's stock after purchasing an additional 3,922 shares during the period. Aptus Capital Advisors LLC's holdings in Cummins were worth $1,768,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mariner Investment Group LLC bought a new position in Cummins in the 4th quarter valued at about $1,046,000. FMR LLC grew its position in shares of Cummins by 5.7% in the fourth quarter. FMR LLC now owns 1,242,362 shares of the company's stock valued at $433,087,000 after purchasing an additional 67,266 shares during the last quarter. Fayez Sarofim & Co increased its stake in shares of Cummins by 72.3% during the fourth quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock worth $2,857,000 after purchasing an additional 3,440 shares during the period. National Bank of Canada FI lifted its holdings in Cummins by 4.2% during the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after purchasing an additional 3,298 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after purchasing an additional 99,464 shares during the period. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMI. JPMorgan Chase & Co. dropped their target price on Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Robert W. Baird dropped their price objective on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Evercore ISI increased their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and reduced their price target for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $346.00.

Cummins Trading Up 0.7 %

Shares of CMI opened at $301.99 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The firm has a market cap of $41.60 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 2.19 and a beta of 1.02. The business's fifty day moving average is $309.16 and its 200-day moving average is $342.27.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter in the previous year, the firm earned $5.08 earnings per share. The business's quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio is 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.

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