579 Shares in Cummins Inc. (NYSE:CMI) Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 579 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its position in Cummins by 59.6% during the fourth 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 in the last quarter. BankPlus Trust Department bought a new position in Cummins during the fourth quarter valued at approximately $26,000. Compass Financial Services Inc bought a new position in Cummins during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new position in Cummins during the fourth quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC bought a new position in Cummins during the third quarter valued at approximately $32,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CMI shares. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Truist Financial lifted their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Trading Down 0.8 %

Shares of CMI stock opened at $341.97 on Monday. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The firm’s fifty day simple moving average is $361.77 and its 200 day simple moving average is $346.52. The firm has a market capitalization of $47.01 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm 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 business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.14 earnings per share. As a group, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 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.