850 Shares in Cummins Inc. (NYSE:CMI) Acquired by Mystic Asset Management Inc.

Mystic Asset Management Inc. bought a new position in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 850 shares of the company's stock, valued at approximately $296,000.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its position in Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Fisher Asset Management LLC lifted its position in Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock worth $1,071,059,000 after buying an additional 66,887 shares in the last quarter. FMR LLC lifted its position in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company's stock worth $380,484,000 after buying an additional 9,245 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cummins by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company's stock worth $342,244,000 after buying an additional 120,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cummins by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,402 shares of the company's stock worth $308,303,000 after buying an additional 17,687 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Trading Down 1.1 %

Shares of NYSE:CMI traded down $3.62 during mid-day trading on Friday, reaching $321.78. The stock had a trading volume of 1,244,157 shares, compared to its average volume of 784,281. The firm has a market cap of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The firm has a 50 day simple moving average of $355.99 and a two-hundred day simple moving average of $347.12. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90.

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

Cummins Announces Dividend

The firm also recently announced 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 yield of 2.26%. Cummins's payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating on the stock in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, UBS Group cut their target price on shares of Cummins from $432.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $389.50.

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.