Cypress Advisory Group LLC Acquires New Stake in Cummins Inc. (NYSE:CMI)

Cypress Advisory Group LLC purchased a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,770 shares of the company's stock, valued at approximately $3,057,000. Cummins makes up approximately 2.8% of Cypress Advisory Group LLC's portfolio, making the stock its 8th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMI. Global Trust Asset Management LLC grew its holdings 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 purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new stake in Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc bought a new position in shares of Cummins in the fourth quarter worth about $27,000. Meeder Asset Management Inc. grew its holdings in shares of Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC bought a new position in shares of Cummins in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CMI shares. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. JPMorgan Chase & Co. upped their target price on Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and cut their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $347.69.

Cummins Price Performance

CMI traded down $4.04 during midday trading on Tuesday, hitting $298.26. The stock had a trading volume of 306,480 shares, compared to its average volume of 805,417. The company has a market cap of $41.08 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. 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 1 year low of $260.02 and a 1 year high of $387.90. The business has a fifty day moving average of $309.16 and a 200 day moving average of $342.27.

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 business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the firm earned $5.08 EPS. The company's revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio is currently 25.84%.

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.