Generali Asset Management SPA SGR Buys New Shares in Cummins Inc. (NYSE:CMI)

Generali Asset Management SPA SGR acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,817 shares of the company's stock, valued at approximately $2,028,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMG National Trust Bank acquired a new stake in shares of Cummins in the 3rd quarter valued at $219,000. Caprock Group LLC grew its stake in Cummins by 3.1% during the third quarter. Caprock Group LLC now owns 8,579 shares of the company's stock worth $2,778,000 after buying an additional 255 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Cummins by 2.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,610 shares of the company's stock worth $1,169,000 after buying an additional 82 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cummins in the third quarter valued at approximately $4,883,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of Cummins by 44.9% in the 3rd quarter. Avior Wealth Management LLC now owns 342 shares of the company's stock worth $111,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CMI. Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. 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 report on Tuesday, January 14th. UBS Group reduced their target price on shares of Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Finally, Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $389.50.

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Cummins Stock Up 2.8 %

CMI traded up $8.92 during trading on Monday, hitting $331.02. The company had a trading volume of 775,724 shares, compared to its average volume of 766,459. The firm's 50-day moving average price is $355.99 and its 200 day moving average price is $347.73. The company has a market capitalization of $45.51 billion, a PE ratio of 11.75, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping 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%. Cummins's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $4.14 earnings per share. As a group, equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio is presently 25.84%.

About Cummins

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.