Larson Financial Group LLC Buys 81 Shares of Cummins Inc. (NYSE:CMI)

Larson Financial Group LLC grew its stake in Cummins Inc. (NYSE:CMI) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,804 shares of the company’s stock after acquiring an additional 81 shares during the quarter. Larson Financial Group LLC’s holdings in Cummins were worth $977,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its holdings in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department bought a new position in Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new stake in shares of Cummins in the 4th quarter worth $30,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Cummins in the third quarter worth $32,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

Shares of Cummins stock opened at $341.97 on Monday. The stock’s fifty day moving average is $361.77 and its 200 day moving average is $346.52. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market cap of $47.01 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.14 EPS. Sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analyst Weigh In

CMI has been the topic of several recent analyst reports. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI raised their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $386.67.

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.