Sigma Planning Corp Has $704,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

Sigma Planning Corp grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,019 shares of the company’s stock after buying an additional 184 shares during the quarter. Sigma Planning Corp’s holdings in Cummins were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CMI. Global Trust Asset Management LLC grew its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Compass Financial Services Inc bought a new stake in Cummins in the 4th quarter worth about $27,000. Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in Cummins in the 4th quarter valued at about $43,000. Finally, Friedenthal Financial bought a new position in shares of Cummins during the 4th quarter worth approximately $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 0.1 %

Shares of Cummins stock opened at $360.91 on Wednesday. The company’s 50-day moving average price is $361.37 and its 200-day moving average price is $343.32. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90. The company has a market cap of $49.62 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.19 and a beta of 1.00.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio is 25.84%.

Analyst Ratings Changes

CMI has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Robert W. Baird raised their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Barclays increased their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $386.67.

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.