Cummins Inc. (NYSE:CMI) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its position in Cummins Inc. (NYSE:CMI) by 9.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,833 shares of the company’s stock after acquiring an additional 157 shares during the period. Smartleaf Asset Management LLC’s holdings in Cummins were worth $639,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CMI. Stephens Inc. AR raised its position in shares of Cummins by 12.9% in the third quarter. Stephens Inc. AR now owns 1,250 shares of the company’s stock valued at $405,000 after buying an additional 143 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in shares of Cummins by 8.0% in the third quarter. Gladstone Institutional Advisory LLC now owns 1,392 shares of the company’s stock valued at $451,000 after buying an additional 103 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Cummins by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 2,467 shares of the company’s stock valued at $799,000 after buying an additional 288 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Cummins by 17.3% in the third quarter. Chicago Partners Investment Group LLC now owns 1,078 shares of the company’s stock valued at $356,000 after buying an additional 159 shares during the last quarter. Finally, Optas LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $216,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CMI shares. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird boosted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Barclays boosted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $386.67.

Cummins Price Performance

CMI opened at $355.81 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 52-week low of $260.88 and a 52-week high of $387.90. The company has a 50 day moving average of $362.41 and a two-hundred day moving average of $345.30. The company has a market cap of $48.92 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.14 earnings per share. On average, analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.05%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Cummins Company 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.