DMKC Advisory Services LLC Takes $1.98 Million Position in Cummins Inc. (NYSE:CMI)

DMKC Advisory Services LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,674 shares of the company’s stock, valued at approximately $1,978,000. Cummins comprises about 1.8% of DMKC Advisory Services LLC’s holdings, making the stock its 21st largest position.

Several other large investors have also made changes to their positions in CMI. Global Trust Asset Management LLC increased its stake in 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 acquiring an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins during the 4th quarter worth about $26,000. Compass Financial Services Inc acquired a new stake in Cummins during the 4th quarter worth approximately $27,000. Prospera Private Wealth LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $32,000. Finally, Kestra Investment Management LLC purchased a new position in Cummins in the fourth quarter valued at approximately $43,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMI has been the subject of several research reports. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Evercore ISI upped their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $386.67.

Cummins Trading Up 0.1 %

Shares of CMI 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 stock has a 50-day moving average price of $361.37 and a 200 day moving average price of $343.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market capitalization of $49.62 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.14 EPS. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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

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.