Gibraltar Capital Management Inc. Invests $7.08 Million in Cummins Inc. (NYSE:CMI)

Gibraltar Capital Management Inc. purchased a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 20,299 shares of the company’s stock, valued at approximately $7,076,000. Cummins makes up 3.1% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently made changes to their positions in CMI. Global Trust Asset Management LLC grew its position in Cummins by 59.6% in the fourth 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. BankPlus Trust Department bought a new stake in shares of Cummins in the 4th quarter worth approximately $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the 4th quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins during the 3rd quarter valued at $32,000. Finally, Kestra Investment Management LLC bought a new position in shares of Cummins in the fourth quarter worth approximately $43,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.1 %

Cummins stock opened at $360.91 on Wednesday. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. The business’s fifty day moving average is $361.37 and its 200 day moving average is $343.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a market capitalization of $49.62 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00.

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 the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $4.14 earnings per share. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on CMI. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird lifted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.