Natixis Raises Position in Cummins Inc. (NYSE:CMI)

Natixis boosted its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 259.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,934 shares of the company's stock after buying an additional 98,809 shares during the period. Natixis owned approximately 0.10% of Cummins worth $47,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Norinchukin Bank The increased its position in shares of Cummins by 10.9% in the 4th quarter. Norinchukin Bank The now owns 6,343 shares of the company's stock valued at $2,211,000 after acquiring an additional 624 shares during the period. Ossiam increased its holdings in shares of Cummins by 634.6% in the fourth quarter. Ossiam now owns 19,027 shares of the company's stock valued at $6,633,000 after purchasing an additional 16,437 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cummins by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,585,802 shares of the company's stock worth $552,820,000 after purchasing an additional 12,722 shares during the last quarter. Forum Financial Management LP lifted its holdings in shares of Cummins by 39.2% during the fourth quarter. Forum Financial Management LP now owns 1,616 shares of the company's stock worth $563,000 after purchasing an additional 455 shares during the period. Finally, GeoWealth Management LLC increased its holdings in Cummins by 23.9% in the 4th quarter. GeoWealth Management LLC now owns 3,666 shares of the company's stock worth $1,278,000 after buying an additional 706 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CMI shares. StockNews.com lowered shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI boosted their price objective on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird lowered their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. One 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's stock. According to data from MarketBeat, Cummins currently has a consensus rating of "Hold" and a consensus target price of $346.00.

Cummins Price Performance

Shares of NYSE:CMI traded up $10.24 during trading on Thursday, reaching $293.91. The stock had a trading volume of 380,164 shares, compared to its average volume of 805,159. The business has a fifty day moving average price of $321.43 and a 200-day moving average price of $344.24. 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 cap of $40.48 billion, a PE ratio of 10.44, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm 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 firm posted $4.14 earnings per share. The company's revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.48%. Cummins's dividend payout ratio is presently 25.84%.

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.