Venturi Wealth Management LLC boosted its position in Cummins Inc. (NYSE:CMI) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,470 shares of the company’s stock after purchasing an additional 1,096 shares during the period. Cummins comprises 1.2% of Venturi Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Venturi Wealth Management LLC’s holdings in Cummins were worth $6,089,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hall Laurie J Trustee increased its position in Cummins by 841.7% during the fourth quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after buying an additional 2,020 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Cummins during the third quarter worth $132,000. Bank of Nova Scotia Trust Co. purchased a new position in Cummins during the third quarter worth $168,000. Krilogy Financial LLC purchased a new position in Cummins during the third quarter worth $168,000. Finally, EagleClaw Capital Managment LLC purchased a new position in Cummins during the third quarter worth $201,000. 82.69% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Citigroup raised their price target on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Robert W. Baird raised their price target on Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 7th. Oppenheimer assumed coverage on Cummins in a research report on Thursday, December 7th. They set an “outperform” rating and a $192.00 price target for the company. Deutsche Bank set a $169.00 price objective on Cummins and gave the company a “sell” rating in a research report on Monday, February 5th. Finally, William Blair reaffirmed a “hold” rating on shares of Cummins in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $188.47.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. equities analysts forecast that Cummins Inc. will post 12.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Friday, February 23rd will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, February 22nd. Cummins’s payout ratio is currently 72.73%.
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Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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