Chiron Investment Management LLC Buys 10,469 Shares of Cummins Inc. (NYSE:CMI)

Chiron Investment Management LLC increased its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 1,741.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,070 shares of the company's stock after purchasing an additional 10,469 shares during the period. Chiron Investment Management LLC's holdings in Cummins were worth $3,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Cummins in the 4th quarter worth about $499,490,000. Raymond James Financial Inc. purchased a new stake in shares of Cummins in the fourth quarter worth about $187,082,000. Vanguard Group Inc. increased its stake in shares of Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after purchasing an additional 250,650 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Cummins by 57.0% during the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock worth $224,317,000 after purchasing an additional 233,694 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Cummins in the fourth quarter valued at about $71,279,000. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 0.3 %

Shares of CMI stock traded up $0.81 on Friday, reaching $281.37. The company had a trading volume of 624,084 shares, compared to its average volume of 811,363. The company has a 50-day moving average of $328.65 and a 200-day moving average of $345.57. 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 stock has a market cap of $38.76 billion, a PE ratio of 9.99, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.14 EPS. On average, equities analysts forecast 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 given a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.59%. Cummins's payout ratio is presently 25.84%.

Analysts Set New Price Targets

Several research firms have issued reports on CMI. JPMorgan Chase & Co. cut their target price on Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and lowered their price target for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Robert W. Baird reduced their price objective on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and increased their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Truist Financial lowered their price target on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $346.00.

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.