Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 16,586 Cummins Inc. (NYSE:CMI)

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,586 shares of the company's stock, valued at approximately $5,782,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Cummins during the fourth quarter worth about $499,490,000. Raymond James Financial Inc. bought a new position in shares of Cummins during the fourth quarter worth approximately $187,082,000. Vanguard Group Inc. raised its position in shares of Cummins by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after buying an additional 250,650 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Cummins by 57.0% in the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock valued at $224,317,000 after buying an additional 233,694 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Cummins during the fourth quarter worth approximately $71,279,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Price Performance

CMI traded up $0.81 on Friday, reaching $281.37. The stock had a trading volume of 624,084 shares, compared to its average volume of 811,363. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $38.76 billion, a price-to-earnings ratio of 9.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a 50-day moving average of $328.65 and a 200-day moving average of $345.57.

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

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio is presently 25.84%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMI shares. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and upped their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Morgan Stanley reduced their price objective on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup decreased their target price on shares of Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and cut their price target for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Finally, StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and an average price target of $346.00.

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.