2,980 Shares in Cummins Inc. (NYSE:CMI) Bought by GAM Holding AG

GAM Holding AG purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,980 shares of the company's stock, valued at approximately $1,039,000.

A number of other institutional investors have also recently bought and sold shares of CMI. Exchange Traded Concepts LLC increased its position in Cummins by 125.4% during the third quarter. Exchange Traded Concepts LLC now owns 408 shares of the company's stock worth $132,000 after buying an additional 227 shares during the last quarter. Creative Planning increased its position in Cummins by 0.3% during the third quarter. Creative Planning now owns 60,996 shares of the company's stock worth $19,750,000 after buying an additional 203 shares during the last quarter. Blue Trust Inc. increased its position in Cummins by 22.1% during the third quarter. Blue Trust Inc. now owns 1,530 shares of the company's stock worth $495,000 after buying an additional 277 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Cummins by 4.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 932 shares of the company's stock worth $302,000 after buying an additional 43 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Cummins by 1,197.5% during the third quarter. Foundations Investment Advisors LLC now owns 18,904 shares of the company's stock worth $6,121,000 after buying an additional 17,447 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CMI shares. JPMorgan Chase & Co. raised Cummins from an "underweight" rating to a "neutral" rating and upped their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. 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. 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. Robert W. Baird upped their target price on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $386.67.

Cummins Price Performance

NYSE CMI traded down $17.60 on Friday, hitting $366.79. 802,298 shares of the company's stock were exchanged, compared to its average volume of 826,870. The stock has a 50-day moving average of $361.52 and a 200-day moving average of $341.12. The stock has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 2.20 and a beta of 1.00. Cummins Inc. has a 52 week low of $259.06 and a 52 week high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI - Get Free Report) last issued 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. The firm had revenue of $8.45 billion for 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 company's revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.14 EPS. Analysts expect that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins's dividend payout ratio is presently 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.