Cummins Inc. (NYSE:CMI) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,208 shares of the company’s stock after acquiring an additional 872 shares during the period. Amalgamated Bank’s holdings in Cummins were worth $10,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC raised its position in shares of 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 during the last quarter. KG&L Capital Management LLC raised its holdings in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the last quarter. Massachusetts Wealth Management raised its holdings in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the last quarter. Avestar Capital LLC lifted its position in shares of Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after acquiring an additional 31 shares in the last quarter. Finally, Equitable Trust Co. boosted its stake in shares of Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Up 0.1 %

Shares of Cummins stock opened at $360.91 on Wednesday. The stock has a 50 day moving average of $361.37 and a 200 day moving average of $343.32. 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 firm has a market capitalization 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 Inc. has a fifty-two week low of $260.88 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion during 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 company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.14 EPS. As a group, research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMI. Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Truist Financial increased their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.