Princeton Capital Management LLC Purchases New Stake in Cummins Inc. (NYSE:CMI)

Princeton Capital Management LLC bought a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 589 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC raised its position in 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 acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cummins during the 4th quarter valued at $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the 4th quarter valued at $27,000. TCTC Holdings LLC bought a new stake in Cummins in the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in Cummins during the fourth quarter worth $30,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Up 2.8 %

NYSE CMI opened at $331.02 on Tuesday. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The stock has a market cap of $45.51 billion, a PE ratio of 11.75, a PEG ratio of 2.19 and a beta of 1.01. The firm has a 50-day simple moving average of $355.39 and a 200 day simple moving average of $347.98. 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 (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $4.14 EPS. On average, research analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMI shares. JPMorgan Chase & Co. reduced their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Truist Financial boosted their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and an average target price of $389.50.

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.