CoreFirst Bank & Trust Acquires Shares of 411 Cummins Inc. (NYSE:CMI)

CoreFirst Bank & Trust bought a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 411 shares of the company’s stock, valued at approximately $143,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CMI shares. Citigroup dropped their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. UBS Group cut their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Evercore ISI increased their target price on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Trading Up 2.8 %

NYSE:CMI opened at $331.02 on Tuesday. The firm’s 50 day moving average is $355.39 and its 200 day moving average is $347.98. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The stock has a market capitalization of $45.51 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. 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 (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS 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 firm 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 firm earned $4.14 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

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

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.