Achmea Investment Management B.V. Acquires 11,617 Shares of Cummins Inc. (NYSE:CMI)

Achmea Investment Management B.V. increased its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,985 shares of the company's stock after acquiring an additional 11,617 shares during the quarter. Achmea Investment Management B.V.'s holdings in Cummins were worth $16,727,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mariner Investment Group LLC bought a new stake in shares of Cummins in the fourth quarter valued at $1,046,000. Alpha DNA Investment Management LLC bought a new stake in shares of Cummins in the third quarter valued at $748,000. Franklin Resources Inc. raised its stake in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after buying an additional 99,464 shares during the period. Bank of Montreal Can raised its stake in shares of Cummins by 21.2% in the third quarter. Bank of Montreal Can now owns 391,845 shares of the company's stock valued at $127,898,000 after buying an additional 68,627 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Cummins by 545.1% in the third quarter. Hancock Whitney Corp now owns 38,630 shares of the company's stock valued at $12,508,000 after buying an additional 32,642 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Cummins stock opened at $330.64 on Thursday. Cummins Inc. has a 52 week low of $260.88 and a 52 week high of $387.90. The business has a 50-day simple moving average of $360.73 and a 200 day simple moving average of $346.75. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $45.46 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.19 and a beta of 1.01.

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Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 business had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. During the same period in the previous year, the business earned $4.14 earnings per share. The firm's revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is currently 25.84%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird boosted their target price on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Barclays lifted their price target on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Citigroup reduced their price target on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $386.67.

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.

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