Bradley Foster & Sargent Inc. CT Acquires 72 Shares of Cummins Inc. (NYSE:CMI)

Bradley Foster & Sargent Inc. CT lifted its stake in Cummins Inc. (NYSE:CMI) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,941 shares of the company’s stock after buying an additional 72 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Cummins were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Compass Financial Services Inc acquired a new position in Cummins in the fourth quarter valued at about $27,000. Prospera Private Wealth LLC bought a new stake in Cummins during the third quarter worth about $32,000. Kestra Investment Management LLC acquired a new stake in Cummins during the fourth quarter worth about $43,000. Finally, Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Robert W. Baird raised their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Truist Financial boosted their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus price target of $386.67.

Cummins Stock Down 4.6 %

Shares of NYSE CMI opened at $366.79 on Friday. The company has a 50 day simple moving average of $361.51 and a 200 day simple moving average of $342.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90. The firm has a market cap of $50.43 billion, a PE ratio of 13.02, 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 (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 during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm earned $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts forecast 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. Shareholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

Cummins 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.