LSV Asset Management decreased its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,904 shares of the company's stock after selling 56,958 shares during the quarter. Cummins accounts for approximately 1.0% of LSV Asset Management's portfolio, making the stock its 18th largest position. LSV Asset Management owned about 0.86% of Cummins worth $413,058,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Mariner Investment Group LLC bought a new position in shares of Cummins in the 4th quarter worth $1,046,000. FMR LLC raised its position in Cummins by 5.7% during the fourth quarter. FMR LLC now owns 1,242,362 shares of the company's stock valued at $433,087,000 after purchasing an additional 67,266 shares in the last quarter. National Bank of Canada FI lifted its stake in Cummins by 4.2% during the fourth quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after purchasing an additional 3,298 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after purchasing an additional 99,464 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cummins by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock worth $54,876,000 after buying an additional 6,107 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.
Cummins Stock Down 0.9 %
CMI traded down $2.51 on Tuesday, hitting $286.06. The company had a trading volume of 173,348 shares, compared to its average volume of 810,606. The stock has a fifty day simple moving average of $333.97 and a 200-day simple moving average of $346.72. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market capitalization of $39.40 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 52-week low of $260.02 and a 52-week 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 analysts' consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during 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 firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 EPS. As a group, equities analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.54%. Cummins's payout ratio is presently 25.84%.
Analyst Ratings Changes
CMI has been the topic of several recent research reports. Robert W. Baird reduced their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a report on Tuesday. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Evercore ISI raised their price target on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Citigroup lowered their price objective on Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Truist Financial dropped their price objective on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $346.50.
Read Our Latest Report on Cummins
About Cummins
(
Free Report)
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.
Featured Stories
Before you consider Cummins, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list.
While Cummins currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
