Howard Capital Management Inc. Boosts Holdings in Cummins Inc. (NYSE:CMI)

Howard Capital Management Inc. boosted its position in shares of Cummins Inc. (NYSE:CMI) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 885 shares of the company’s stock after acquiring an additional 45 shares during the period. Howard Capital Management Inc.’s holdings in Cummins were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealthspire Advisors LLC lifted its position in Cummins by 6.1% during the fourth quarter. Wealthspire Advisors LLC now owns 1,887 shares of the company’s stock valued at $658,000 after acquiring an additional 108 shares during the last quarter. Capital City Trust Co. FL increased its stake in Cummins by 14.2% during the 4th quarter. Capital City Trust Co. FL now owns 770 shares of the company’s stock valued at $268,000 after purchasing an additional 96 shares in the last quarter. Sigma Planning Corp increased its stake in Cummins by 10.0% during the 4th quarter. Sigma Planning Corp now owns 2,019 shares of the company’s stock valued at $704,000 after purchasing an additional 184 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Cummins by 32.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 716 shares of the company’s stock valued at $250,000 after purchasing an additional 174 shares in the last quarter. Finally, Bell Bank acquired a new position in Cummins during the 4th quarter valued at approximately $212,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI opened at $360.44 on Tuesday. The company’s fifty day moving average price is $361.38 and its 200 day moving average price is $342.85. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The company has a market capitalization of $49.55 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. 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) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.06 billion. During the same period in the prior year, the firm posted $4.14 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed 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 2.02%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analysts Set New Price Targets

CMI has been the topic of a number of recent analyst reports. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $386.67.

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.