Cummins Inc. (NYSE:CMI) is DDD Partners LLC's 9th Largest Position

DDD Partners LLC cut its position in Cummins Inc. (NYSE:CMI - Free Report) by 14.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,860 shares of the company's stock after selling 11,345 shares during the quarter. Cummins comprises about 2.8% of DDD Partners LLC's portfolio, making the stock its 9th biggest holding. DDD Partners LLC's holdings in Cummins were worth $22,610,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMI. Pathway Financial Advisers LLC lifted its position in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after buying an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock valued at $315,616,000 after buying an additional 972,247 shares during the period. 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 valued at $973,174,000 after buying an additional 165,398 shares during the period. State Street Corp increased its stake in shares of 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 buying an additional 126,703 shares during the period. Finally, abrdn plc increased its stake in shares of Cummins by 22.5% in the third quarter. abrdn plc now owns 611,810 shares of the company's stock valued at $198,119,000 after buying an additional 112,529 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Down 0.3 %

Shares of CMI stock traded down $1.34 during trading hours on Thursday, reaching $384.73. The company had a trading volume of 641,033 shares, compared to its average volume of 827,610. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. 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 business has a fifty day simple moving average of $361.24 and a 200-day simple moving average of $340.82. The company has a market cap of $52.89 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The company's revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.89%. Cummins's dividend payout ratio is presently 25.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Evercore ISI upped their target price on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and upped their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Barclays upped their target price on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $386.67.

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.