Cummins Inc. (NYSE:CMI) Shares Sold by Twin Tree Management LP

Twin Tree Management LP lessened its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 85.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,986 shares of the company's stock after selling 35,314 shares during the quarter. Twin Tree Management LP's holdings in Cummins were worth $2,087,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Cummins during the fourth quarter worth $187,082,000. Proficio Capital Partners LLC acquired a new position in Cummins during the 4th quarter worth approximately $71,279,000. Amundi increased its position in Cummins by 32.3% during the 4th quarter. Amundi now owns 771,038 shares of the company's stock worth $277,381,000 after purchasing an additional 188,254 shares during the period. Fisher Asset Management LLC raised its stake in shares of Cummins by 5.8% during the 3rd 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 in the last quarter. Finally, State Street Corp lifted its holdings in shares of Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after buying an additional 126,703 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CMI shares. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Truist Financial increased their price target 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 raised their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, StockNews.com downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $389.50.

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Cummins Trading Down 1.1 %

CMI stock traded down $3.62 during midday trading on Friday, hitting $321.78. The stock had a trading volume of 1,244,157 shares, compared to its average volume of 784,281. The company's 50-day moving average price is $355.99 and its 200 day moving average price is $347.12. 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 cap of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.14 earnings per share. On average, equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.26%. Cummins's dividend payout ratio (DPR) is 25.84%.

Cummins 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.