Cummins Inc. (NYSE:CMI) Shares Bought by Xponance Inc.

Xponance Inc. raised its position in Cummins Inc. (NYSE:CMI - Free Report) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,570 shares of the company's stock after acquiring an additional 3,497 shares during the quarter. Xponance Inc.'s holdings in Cummins were worth $7,868,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Cummins during the 4th quarter valued at approximately $187,082,000. Proficio Capital Partners LLC purchased a new position in shares of Cummins during the 4th quarter valued at approximately $71,279,000. Amundi grew its position in shares of Cummins by 32.3% during the fourth quarter. Amundi now owns 771,038 shares of the company's stock worth $277,381,000 after buying an additional 188,254 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after buying an additional 165,398 shares during the last quarter. Finally, State Street Corp raised its holdings in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research analyst reports. Evercore ISI boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. UBS Group lowered their price objective on Cummins from $432.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Truist Financial increased their target price on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Cummins presently has a consensus rating of "Hold" and a consensus target price of $389.50.

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Cummins Stock Performance

Cummins stock traded up $8.92 during midday trading on Monday, reaching $331.02. 775,724 shares of the stock traded hands, compared to its average volume of 766,459. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. 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 firm has a market cap of $45.51 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 2.19 and a beta of 1.01. The firm has a fifty day moving average price of $355.99 and a two-hundred day moving average price of $347.73.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (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 the consensus estimate of $8.06 billion. During the same period in the previous year, the firm posted $4.14 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.20%. Cummins's payout ratio is 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.