Gilbert & Cook Inc. Takes Position in Cummins Inc. (NYSE:CMI)

Key Points

• Gilbert & Cook Inc. has acquired a new position in Cummins Inc. with 1,774 shares valued at approximately $556,000 in the first quarter of the year.
• Wall Street analysts have varying ratings on Cummins, with the current average rating being "Hold" and an average price target of $361.92.
• Cummins has declared a new quarterly dividend of $2.00, representing an increase from the previous dividend of $1.82, with an annualized yield of 2.17%.

Gilbert & Cook Inc. purchased a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,774 shares of the company's stock, valued at approximately $556,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Cummins by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company's stock valued at $1,174,504,000 after buying an additional 84,112 shares in the last quarter. Northern Trust Corp boosted its stake in Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock valued at $656,418,000 after buying an additional 246,807 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cummins by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,093 shares of the company's stock valued at $566,856,000 after buying an additional 99,009 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cummins by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,585,802 shares of the company's stock valued at $552,820,000 after buying an additional 12,722 shares in the last quarter. Finally, Norges Bank bought a new position in Cummins during the fourth quarter valued at about $499,490,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cummins

In other Cummins news, Director John H. Stone purchased 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the acquisition, the director directly owned 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of CMI stock traded up $1.07 during trading on Monday, reaching $370.59. The company had a trading volume of 163,934 shares, compared to its average volume of 870,102. The firm's 50 day simple moving average is $330.38 and its two-hundred day simple moving average is $330.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 0.81. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The company has a market capitalization of $51.05 billion, a PE ratio of 18.44, a PEG ratio of 2.05 and a beta of 1.03.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the business earned $5.08 EPS. The firm's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, August 22nd. This is a positive change from Cummins's previous quarterly dividend of $1.82. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.16%. Cummins's payout ratio is 39.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Truist Financial decreased their price target on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded Cummins from a "neutral" rating to a "buy" rating and increased their price target for the company from $410.00 to $431.00 in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price target on Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and decreased their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Finally, Evercore ISI decreased their price target on Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $361.92.

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.