J. Safra Sarasin Holding AG Invests $2.55 Million in Cummins Inc. (NYSE:CMI)

J. Safra Sarasin Holding AG purchased a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,314 shares of the company's stock, valued at approximately $2,550,000.

A number of other large investors have also recently bought and sold shares of the business. Mariner Investment Group LLC bought a new stake in Cummins in the fourth quarter worth approximately $1,046,000. FMR LLC boosted its stake in Cummins by 5.7% during the fourth quarter. FMR LLC now owns 1,242,362 shares of the company's stock worth $433,087,000 after acquiring an additional 67,266 shares in the last quarter. National Bank of Canada FI grew its holdings in Cummins by 4.2% in the fourth quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after purchasing an additional 3,298 shares during the period. Franklin Resources Inc. raised its holdings in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after purchasing an additional 99,464 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cummins by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock worth $54,876,000 after purchasing an additional 6,107 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial dropped their price target on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their price target on shares of Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and lowered their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. 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 report on Tuesday, January 14th. Finally, Robert W. Baird decreased their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $346.00.

Cummins Trading Down 2.7 %

Shares of CMI stock opened at $274.32 on Tuesday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90. The company has a 50-day simple moving average of $325.03 and a two-hundred day simple moving average of $345.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market capitalization of $37.79 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping 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 business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the company posted $4.14 earnings per share. Cummins's quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.65%. Cummins's dividend payout ratio (DPR) 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.

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