Curran Financial Partners LLC Takes Position in Cummins Inc. (NYSE:CMI)

Curran Financial Partners LLC acquired a new position in Cummins Inc. (NYSE:CMI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 987 shares of the company's stock, valued at approximately $309,000.

Several other institutional investors have also recently modified their holdings of CMI. BankPlus Trust Department acquired a new position in Cummins during the fourth quarter valued at $26,000. Meeder Asset Management Inc. raised its stake 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 buying an additional 52 shares during the last quarter. TCTC Holdings LLC purchased a new position in shares of Cummins during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Cummins in the 4th quarter valued at about $30,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Cummins in the fourth quarter worth about $32,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CMI shares. Morgan Stanley lifted their price target on Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Truist Financial decreased their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Finally, UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and dropped their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Cummins presently has a consensus rating of "Hold" and an average price target of $357.25.

Insider Buying and Selling

In other news, Director John H. Stone acquired 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were bought at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director now owns 2,441 shares of the company's stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Cummins Stock Performance

CMI opened at $314.69 on Thursday. The firm's fifty day simple moving average is $309.88 and its two-hundred day simple moving average is $335.77. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The company has a market cap of $43.35 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.89 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 8.20% and a return on equity of 26.88%. 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 prior year, the firm earned $5.08 EPS. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, May 23rd. Cummins's dividend payout ratio is presently 36.22%.

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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