Elo Mutual Pension Insurance Co Increases Holdings in Cummins Inc. (NYSE:CMI)

Elo Mutual Pension Insurance Co boosted its stake in Cummins Inc. (NYSE:CMI - Free Report) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,184 shares of the company's stock after purchasing an additional 2,110 shares during the period. Elo Mutual Pension Insurance Co's holdings in Cummins were worth $4,945,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CMI. Vanguard Group Inc. increased its stake in shares of Cummins by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after buying an additional 250,650 shares during the period. State Street Corp increased 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 increased its position in Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock valued at $1,071,059,000 after purchasing an additional 66,887 shares during the period. FMR LLC raised its holdings in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company's stock worth $380,484,000 after purchasing an additional 9,245 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cummins by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock valued at $342,244,000 after purchasing an additional 120,579 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

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Cummins Stock Up 0.7 %

NYSE CMI traded up $2.19 during trading hours on Tuesday, hitting $315.63. The company's stock had a trading volume of 204,992 shares, compared to its average volume of 802,798. 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 company's 50-day simple moving average is $351.11 and its two-hundred day simple moving average is $348.91. The company has a market capitalization of $43.39 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for 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%. Cummins's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.14 earnings per share. Research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio is currently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on Cummins from $420.00 to $375.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Finally, Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins has a consensus rating of "Hold" and an average price target of $383.67.

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.