Orion Investment Co Boosts Stock Holdings in Cummins Inc. (NYSE:CMI)

Orion Investment Co boosted its position in shares of Cummins Inc. (NYSE:CMI) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,912 shares of the company’s stock after acquiring an additional 88 shares during the period. Cummins accounts for about 3.1% of Orion Investment Co’s holdings, making the stock its 11th biggest position. Orion Investment Co’s holdings in Cummins were worth $7,639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CMI. Global Trust Asset Management LLC grew its holdings in shares of 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 purchasing an additional 28 shares in the last quarter. KG&L Capital Management LLC grew its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after buying an additional 28 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after buying an additional 28 shares during the last quarter. Massachusetts Wealth Management lifted its stake in Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after purchasing an additional 30 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock worth $344,000 after purchasing an additional 31 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CMI shares. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Robert W. Baird raised their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $383.67.

Cummins Stock Performance

NYSE CMI opened at $295.96 on Friday. The business has a 50-day moving average price of $347.69 and a 200-day moving average price of $348.43. The firm has a market cap of $40.69 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (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 firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend 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.