MJP Associates Inc. ADV Increases Stock Position in Cummins Inc. (NYSE:CMI)

MJP Associates Inc. ADV grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 132.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,441 shares of the company’s stock after purchasing an additional 821 shares during the period. MJP Associates Inc. ADV’s holdings in Cummins were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CMI. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department acquired a new stake in shares of Cummins during the fourth quarter worth approximately $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC bought a new position in Cummins during the fourth quarter valued at approximately $28,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Up 0.1%

Shares of Cummins stock opened at $306.81 on Monday. 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 50-day simple moving average of $304.66 and a two-hundred day simple moving average of $341.45. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The stock has a market capitalization of $42.26 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $5.08 earnings per share. On average, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.37%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio is presently 36.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. increased their target price on Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and decreased their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Morgan Stanley raised their price objective on Cummins from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $352.33.

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.