Vista Capital Partners Inc. Buys Shares of 1,242 Cummins Inc. (NYSE:CMI)

Vista Capital Partners Inc. bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,242 shares of the company’s stock, valued at approximately $433,000.

Several other hedge funds have also made changes to their positions in the business. Pathway Financial Advisers LLC boosted its holdings in Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after acquiring an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares during the last quarter. Fisher Asset Management LLC raised its position in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. State Street Corp raised its position in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after purchasing an additional 126,703 shares during the period. Finally, abrdn plc raised its position in Cummins by 22.5% in the third quarter. abrdn plc now owns 611,810 shares of the company’s stock valued at $198,119,000 after purchasing an additional 112,529 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CMI shares. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird boosted their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $383.08.

Cummins Price Performance

Shares of NYSE:CMI opened at $379.21 on Wednesday. The company’s fifty day moving average is $360.92 and its two-hundred day moving average is $340.50. 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 Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a market cap of $52.13 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating 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 previous year, the company posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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 issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

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.