Captrust Financial Advisors Raises Stock Position in Cummins Inc. (NYSE:CMI)

Captrust Financial Advisors boosted its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,236 shares of the company's stock after buying an additional 2,285 shares during the quarter. Captrust Financial Advisors' holdings in Cummins were worth $18,558,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised its stake in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins during the fourth quarter worth $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins during the 4th quarter valued at $27,000. Meeder Asset Management Inc. boosted its position in shares of Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new position in Cummins during the 4th quarter worth $28,000. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

NYSE:CMI traded up $0.40 during trading hours on Friday, reaching $306.81. The company had a trading volume of 512,986 shares, compared to its average volume of 807,079. 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 1-year low of $260.02 and a 1-year high of $387.90. The business's 50 day moving average price is $304.66 and its 200-day moving average price is $341.31. The firm has a market cap of $42.26 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

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

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. 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 2.37%. Cummins's payout ratio is 36.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMI shares. Citigroup lowered their price target on Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Truist Financial dropped their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. 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. Evercore ISI boosted their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cummins currently has a consensus rating of "Hold" and an average price target of $347.69.

Cummins 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.