First Nebraska Trust Co Makes New Investment in Cummins Inc. $CMI

First Nebraska Trust Co acquired a new stake in Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,308 shares of the company’s stock, valued at approximately $933,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Valmark Advisers Inc. raised its stake in shares of Cummins by 1.9% during the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after buying an additional 16 shares during the period. Guardian Partners Inc. grew its stake in Cummins by 1.0% in the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock valued at $852,000 after acquiring an additional 16 shares during the period. Nicolet Advisory Services LLC grew its stake in Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after acquiring an additional 17 shares during the period. Uhlmann Price Securities LLC increased its holdings in Cummins by 2.4% in the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after acquiring an additional 17 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its holdings in Cummins by 2.6% in the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after acquiring an additional 18 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMI shares. Morgan Stanley increased their price objective on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Citigroup boosted their target price on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Truist Financial set a $894.00 price target on shares of Cummins in a research report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $745.64.

Cummins Trading Down 0.9%

Shares of CMI stock opened at $587.87 on Friday. The stock’s fifty day moving average is $660.86 and its two-hundred day moving average is $628.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The firm has a market capitalization of $80.93 billion, a P/E ratio of 30.04, a PEG ratio of 1.40 and a beta of 1.24. Cummins Inc. has a fifty-two week low of $389.52 and a fifty-two week high of $737.76.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%.Cummins’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $6.43 EPS. Research analysts expect that Cummins Inc. will post 30.06 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a dividend of $2.20 per share. The ex-dividend date is Friday, August 21st. This is a boost from Cummins’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a yield of 1.5%. Cummins’s dividend payout ratio (DPR) is presently 40.88%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.