MGO One Seven LLC increased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 192.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,422 shares of the company's stock after purchasing an additional 4,225 shares during the period. MGO One Seven LLC's holdings in Cummins were worth $2,239,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Fayez Sarofim & Co lifted its stake in Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock valued at $2,857,000 after acquiring an additional 3,440 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in Cummins in the 4th quarter worth $2,550,000. Wealth Dimensions Group Ltd. purchased a new stake in Cummins in the 4th quarter worth $241,000. TD Waterhouse Canada Inc. increased its holdings in Cummins by 7.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,871 shares of the company's stock worth $1,698,000 after acquiring an additional 327 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cummins by 24.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company's stock worth $2,165,000 after buying an additional 1,225 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on CMI. Morgan Stanley decreased their target price on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating on the stock in a report on Wednesday, April 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. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Truist Financial cut their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $346.00.
Read Our Latest Stock Report on Cummins
Cummins Price Performance
CMI stock traded down $1.15 during trading on Tuesday, hitting $293.07. The company had a trading volume of 755,980 shares, compared to its average volume of 808,553. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two 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. The company has a fifty day moving average price of $316.28 and a two-hundred day moving average price of $343.60. The company has a market cap of $40.37 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.19 and a beta of 1.07.
Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for 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%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 EPS. Equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders 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 2.48%. Cummins's dividend payout ratio (DPR) is presently 25.84%.
Cummins Company Profile
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Free Report)
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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