Integras Partners LLC Purchases Shares of 8,143 Cummins Inc. (NYSE:CMI)

Integras Partners LLC purchased a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,143 shares of the company’s stock, valued at approximately $2,839,000. Cummins makes up about 2.4% of Integras Partners LLC’s holdings, making the stock its 12th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC increased its position in shares of 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 purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in Cummins in the 4th quarter valued at about $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in Cummins in the 4th quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter valued at approximately $32,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Down 5.5 %

Shares of Cummins stock opened at $312.65 on Friday. 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 $260.88 and a 1 year high of $387.90. The company has a market capitalization of $42.98 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.19 and a beta of 1.01. The business has a 50 day moving average price of $360.03 and a 200 day moving average price of $346.51.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 EPS. Sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.33%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMI. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Evercore ISI boosted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $386.67.

About Cummins

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.