Natixis Advisors LLC grew its position in Cummins Inc. (NYSE:CMI - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,682 shares of the company's stock after purchasing an additional 3,017 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Cummins worth $35,446,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC grew its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department bought a new position in Cummins in the 4th quarter worth about $26,000. Compass Financial Services Inc bought a new position in Cummins in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. bought a new position in Cummins in the 4th quarter worth about $30,000. Finally, Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter worth about $32,000. Institutional investors own 83.46% of the company's stock.
Wall Street Analyst Weigh In
CMI has been the subject of several recent analyst reports. StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday, December 6th. Robert W. Baird increased their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Evercore ISI increased 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. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $389.50.
Check Out Our Latest Research Report on Cummins
Cummins Trading Down 0.5 %
Cummins stock traded down $1.78 during midday trading on Thursday, reaching $325.38. The stock had a trading volume of 885,923 shares, compared to its average volume of 857,457. The firm's fifty day simple moving average is $357.35 and its two-hundred day simple moving average is $347.20. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market cap of $44.73 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 2.19 and a beta of 1.01.
Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during 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 was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $4.14 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is currently 25.84%.
Cummins 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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