International Assets Investment Management LLC Has $727,000 Stock Position in Cummins Inc. (NYSE:CMI)

International Assets Investment Management LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 99.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,091 shares of the company's stock after selling 972,664 shares during the period. International Assets Investment Management LLC's holdings in Cummins were worth $727,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after purchasing an additional 126,703 shares during the period. Fisher Asset Management LLC lifted its holdings in Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after buying an additional 165,398 shares during the period. Pathway Financial Advisers LLC boosted its stake in Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after acquiring an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cummins by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock worth $469,869,000 after acquiring an additional 26,977 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock valued at $468,503,000 after acquiring an additional 31,190 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

NYSE CMI traded down $4.44 on Friday, reaching $355.31. The stock had a trading volume of 688,523 shares, compared to its average volume of 572,387. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $48.74 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The firm has a fifty day moving average of $361.38 and a two-hundred day moving average of $323.95.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $4.73 earnings per share. On average, equities research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, November 22nd. Cummins's dividend payout ratio (DPR) is presently 48.08%.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

CMI has been the subject of a number of recent analyst reports. Vertical Research downgraded Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Citigroup raised their price objective on shares of Cummins from $415.00 to $435.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Truist Financial boosted their target price on Cummins from $369.00 to $424.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cummins has an average rating of "Hold" and an average price target of $363.50.

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.