Cummins Inc. (NYSE:CMI) Shares Sold by Banco Santander S.A.

Banco Santander S.A. lessened its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 77.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 822 shares of the company's stock after selling 2,866 shares during the period. Banco Santander S.A.'s holdings in Cummins were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Global Trust Asset Management LLC raised its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department acquired a new stake in Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cummins during the fourth quarter worth $30,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Cummins during the third quarter worth $32,000. Institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMI. StockNews.com cut shares of Cummins from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $386.67.

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Cummins Price Performance

Shares of CMI traded down $18.06 during trading hours on Thursday, reaching $312.65. The company had a trading volume of 1,573,179 shares, compared to its average volume of 905,616. The firm has a 50 day simple moving average of $360.03 and a 200-day simple moving average of $346.51. 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 $42.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90.

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

Cummins Announces Dividend

The firm 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. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.33%. Cummins's dividend payout ratio (DPR) is currently 25.84%.

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.