Stevens Capital Management LP Purchases 804 Shares of Cummins Inc. (NYSE:CMI)

Stevens Capital Management LP boosted its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 57.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,198 shares of the company's stock after buying an additional 804 shares during the period. Stevens Capital Management LP's holdings in Cummins were worth $766,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its position in shares of 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 buying an additional 28 shares during the period. KG&L Capital Management LLC increased its stake in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock valued at $1,296,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC grew its stake in shares of Cummins by 0.9% in the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock worth $1,155,000 after buying an additional 28 shares during the last quarter. Massachusetts Wealth Management grew its stake in shares of Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock worth $1,677,000 after acquiring an additional 30 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after acquiring an additional 31 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

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Cummins Price Performance

Shares of CMI stock traded down $3.30 on Thursday, hitting $324.73. 79,542 shares of the stock traded hands, compared to its average volume of 758,402. The firm has a market cap of $44.64 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 2.19 and a beta of 1.01. 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 50 day simple moving average of $354.07 and a two-hundred day simple moving average of $348.10. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

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

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analyst Weigh In

CMI has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Cummins from $420.00 to $375.00 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Jefferies Financial Group boosted their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. UBS Group reduced their target price on Cummins from $432.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $389.50.

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.