Lbp Am Sa Raises Stake in Cummins Inc. (NYSE:CMI)

LBP AM SA grew its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 122.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,186 shares of the company's stock after purchasing an additional 10,556 shares during the quarter. LBP AM SA's holdings in Cummins were worth $6,688,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 28 shares during the last quarter. KG&L Capital Management LLC raised its holdings in Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after purchasing an additional 28 shares during the last quarter. Massachusetts Wealth Management increased its stake in shares of Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after acquiring an additional 30 shares in the last quarter. Avestar Capital LLC increased its stake in shares of Cummins by 3.2% in the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after acquiring an additional 31 shares in the last quarter. Finally, Mayflower Financial Advisors LLC increased its stake in shares of Cummins by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company's stock valued at $568,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

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Cummins Stock Up 1.5 %

CMI traded up $4.69 during mid-day trading on Wednesday, reaching $327.24. 768,092 shares of the stock were exchanged, compared to its average volume of 895,637. 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 capitalization of $44.99 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a 50 day moving average price of $358.00 and a two-hundred day moving average price of $347.35. Cummins Inc. has a 1 year low of $261.51 and a 1 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 firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.14 EPS. As a group, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is currently 25.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMI shares. Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Truist Financial lifted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Evercore ISI boosted their price target 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. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Cummins presently has an average rating of "Hold" and a consensus price target of $389.50.

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.