243 Shares in Cummins Inc. (NYSE:CMI) Bought by Orion Capital Management LLC

Orion Capital Management LLC purchased a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 243 shares of the company’s stock, valued at approximately $85,000.

A number of other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% in the fourth 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 last quarter. BankPlus Trust Department bought a new stake in Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the fourth quarter worth $27,000. Meeder Asset Management Inc. increased its stake in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC purchased a new stake in Cummins in the fourth quarter worth $28,000. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone bought 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were bought at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the purchase, the director now directly owns 2,441 shares of the company’s stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Cummins Stock Performance

Shares of Cummins stock opened at $323.27 on Thursday. The firm has a market cap of $44.53 billion, a P/E ratio of 11.48, a P/E/G ratio of 2.19 and a beta of 1.02. 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 Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The stock’s fifty day moving average price is $304.57 and its 200-day moving average price is $341.39.

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

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.25%. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Truist Financial reduced their target price on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley increased their target price on Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. 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. Finally, Citigroup increased their target price on Cummins from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $352.17.

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.