Jump Financial LLC Makes New $1.01 Million Investment in Cummins Inc. (NYSE:CMI)

Jump Financial LLC bought a new position in Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,894 shares of the company's stock, valued at approximately $1,009,000.

Other hedge funds also recently bought and sold shares of the company. Global Trust Asset Management LLC increased its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter valued at $27,000. Meeder Asset Management Inc. boosted its position in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new position in Cummins in the 4th quarter worth about $28,000. Institutional investors own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMI. Truist Financial reduced their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Evercore ISI boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Barclays raised their price target on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. UBS Group cut Cummins from a "buy" rating to a "sell" rating and reduced their price objective for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $346.00.

Cummins Price Performance

Shares of CMI traded down $0.38 during midday trading on Friday, hitting $293.58. 356,569 shares of the company traded hands, compared to its average volume of 805,584. 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 stock has a market cap of $40.44 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The firm has a 50 day moving average of $319.84 and a 200-day moving average of $343.98.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.14 earnings per share. On average, analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.48%. Cummins's dividend payout ratio is presently 25.84%.

Cummins Company 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.