Cummins Inc. (NYSE:CMI) Shares Bought by Virtus ETF Advisers LLC

by · The Markets Daily

Virtus ETF Advisers LLC grew its stake in Cummins Inc. (NYSE:CMI – Free Report) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,438 shares of the company’s stock after purchasing an additional 389 shares during the period. Virtus ETF Advisers LLC’s holdings in Cummins were worth $1,198,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global Trust Asset Management LLC raised its position in 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 buying an additional 28 shares during the last quarter. KG&L Capital Management LLC increased its stake 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 worth $1,296,000 after acquiring an additional 28 shares during the period. Signaturefd LLC raised its holdings in Cummins by 0.9% during the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management lifted its position in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after purchasing an additional 30 shares during the period. Finally, Avestar Capital LLC boosted its holdings in Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price objective on shares of Cummins from $425.00 to $340.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on Cummins from $375.00 to $308.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Truist Financial lowered their target price on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $346.00.

View Our Latest Stock Analysis on Cummins

Cummins Stock Performance

CMI stock opened at $293.56 on Friday. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.19 and a beta of 1.07. The stock’s fifty day moving average is $318.12 and its two-hundred day moving average is $343.74. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI – Get Free Report) last posted 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 business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the firm posted $4.14 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.48%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Cummins Company Profile

(Free Report)

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.

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