NEOS Investment Management LLC Increases Stock Position in Cummins Inc. (NYSE:CMI)

NEOS Investment Management LLC increased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 26.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,963 shares of the company's stock after purchasing an additional 1,239 shares during the quarter. NEOS Investment Management LLC's holdings in Cummins were worth $2,079,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% during 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 purchased a new position in Cummins during the fourth quarter worth approximately $26,000. Compass Financial Services Inc purchased a new position in Cummins during the fourth quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in Cummins during the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Cummins in the 4th quarter valued at $30,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 0.3 %

Shares of CMI stock traded down $0.91 during trading hours on Monday, reaching $313.11. 1,239,158 shares of the stock were exchanged, compared to its average volume of 805,026. Cummins Inc. has a 12-month low of $261.51 and a 12-month high of $387.90. The business's fifty day moving average is $352.17 and its two-hundred day moving average is $348.80. 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 capitalization of $43.05 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.19 and a beta of 1.01.

Remove Ads

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analysts' expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.14 EPS. As a group, research analysts expect 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. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent research reports. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. UBS Group cut their target price on Cummins from $432.00 to $400.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird upped 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. Finally, Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins presently has a consensus rating of "Hold" and a consensus target price of $383.67.

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.