RFG Bristol Wealth Advisors LLC Takes Position in Cummins Inc. (NYSE:CMI)

RFG Bristol Wealth Advisors LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,701 shares of the company’s stock, valued at approximately $942,000.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC increased its position in Cummins by 59.6% in 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 period. BankPlus Trust Department acquired a new stake in shares of Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc bought a new position in Cummins during the fourth quarter worth $27,000. Meeder Asset Management Inc. raised its stake in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC bought a new stake in Cummins in the 4th quarter valued at $28,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CMI shares. UBS Group dropped their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price objective on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cummins has a consensus rating of “Hold” and an average target price of $383.67.

Cummins Stock Performance

Cummins stock opened at $315.09 on Wednesday. The firm has a market capitalization of $43.32 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.19 and a beta of 1.01. The stock has a fifty day moving average price of $350.07 and a two-hundred day moving average price of $349.00. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. 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 (NYSE:CMI) last announced its 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. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $4.14 EPS. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is currently 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.