Mizuho Securities USA LLC Raises Holdings in Cummins Inc. (NYSE:CMI)

Mizuho Securities USA LLC increased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,002 shares of the company's stock after acquiring an additional 4,115 shares during the period. Mizuho Securities USA LLC's holdings in Cummins were worth $4,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMI. Millstone Evans Group LLC purchased a new stake in Cummins during the 4th quarter worth about $184,000. Mindset Wealth Management LLC grew its position in shares of Cummins by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 2,076 shares of the company's stock worth $724,000 after buying an additional 35 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Cummins in the fourth quarter valued at approximately $60,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Cummins by 13.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,056 shares of the company's stock valued at $368,000 after acquiring an additional 124 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Cummins by 870.9% in the fourth quarter. Teacher Retirement System of Texas now owns 85,102 shares of the company's stock worth $29,667,000 after acquiring an additional 76,337 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMI shares. Evercore ISI raised their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Finally, Robert W. Baird raised their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $389.50.

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Cummins Stock Performance

Shares of NYSE:CMI traded down $2.79 on Wednesday, reaching $328.08. The company's stock had a trading volume of 562,157 shares, compared to its average volume of 760,904. Cummins Inc. has a 52-week low of $261.51 and a 52-week high of $387.90. The stock has a market capitalization of $45.11 billion, a P/E ratio of 11.65, a PEG ratio of 2.19 and a beta of 1.01. The stock's 50-day moving average is $354.07 and its two-hundred day moving average is $348.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $4.14 EPS. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.22%. Cummins's dividend payout ratio is currently 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.