Ausdal Financial Partners Inc. Makes New Investment in Cummins Inc. (NYSE:CMI)

Ausdal Financial Partners Inc. purchased a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 601 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently modified their holdings of the business. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins during the fourth quarter worth $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins during the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in Cummins in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $313.45 on Friday. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The firm has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 2.19 and a beta of 1.01. The stock’s 50 day moving average price is $352.17 and its two-hundred day moving average price is $348.05. 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 (NYSE:CMI) last posted its quarterly earnings results 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the business earned $4.14 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. UBS Group reduced their price target on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $389.50.

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.