National Bank of Canada FI Has $28.36 Million Holdings in Cummins Inc. (NYSE:CMI)

National Bank of Canada FI boosted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,344 shares of the company's stock after buying an additional 3,298 shares during the quarter. National Bank of Canada FI owned 0.06% of Cummins worth $28,359,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in shares of Cummins by 7.8% in the third quarter. Ascent Group LLC now owns 1,380 shares of the company's stock valued at $447,000 after buying an additional 100 shares in the last quarter. Centiva Capital LP purchased a new position in Cummins in the 3rd quarter worth about $205,000. Investment Management Corp of Ontario raised its holdings in Cummins by 22.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 8,060 shares of the company's stock worth $2,610,000 after buying an additional 1,500 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Cummins by 26.3% during the third quarter. Integrated Wealth Concepts LLC now owns 7,653 shares of the company's stock valued at $2,478,000 after buying an additional 1,592 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in shares of Cummins in the third quarter worth approximately $210,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CMI shares. Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Citigroup decreased their price objective on Cummins from $430.00 to $360.00 and set a "buy" rating for the company in a research report on Monday, March 31st. UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and set a $240.00 target price on the stock. in a report on Monday. Finally, Evercore ISI increased 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $370.33.

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Cummins Stock Down 2.6 %

Shares of NYSE CMI traded down $7.34 during mid-day trading on Monday, reaching $270.28. 730,069 shares of the company traded hands, compared to its average volume of 804,967. The company's fifty day moving average is $345.89 and its two-hundred day moving average is $348.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The stock has a market cap of $37.23 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07.

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, beating the consensus estimate 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%. Cummins's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.14 earnings per share. On average, analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given 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 2.69%. Cummins's dividend payout ratio (DPR) is currently 25.84%.

About Cummins

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.