Susquehanna Fundamental Investments LLC Acquires New Shares in Cummins Inc. (NYSE:CMI)

Susquehanna Fundamental Investments LLC purchased a new position in Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 103,537 shares of the company's stock, valued at approximately $36,093,000. Cummins accounts for about 0.5% of Susquehanna Fundamental Investments LLC's portfolio, making the stock its 22nd largest holding. Susquehanna Fundamental Investments LLC owned approximately 0.08% of Cummins as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC increased its stake in shares of 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. KG&L Capital Management LLC boosted its holdings in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after buying an additional 28 shares during the period. Signaturefd LLC boosted its holdings in shares of Cummins by 0.9% during 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 period. Massachusetts Wealth Management boosted its holdings in shares of Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock worth $1,677,000 after buying an additional 30 shares during the period. Finally, Avestar Capital LLC boosted its holdings in shares of Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock worth $344,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

CMI has been the subject of several recent analyst reports. Bank of America raised shares of Cummins from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial reduced their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Barclays increased their price target on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $346.00.

Cummins Trading Down 0.4 %

NYSE:CMI traded down $1.15 during trading hours on Tuesday, hitting $293.07. 1,148,829 shares of the stock were exchanged, compared to its average volume of 809,798. The company's 50 day moving average is $316.28 and its two-hundred day moving average is $343.60. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $40.37 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS 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 net margin of 11.57% and a return on equity of 27.12%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.14 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders 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 2.48%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio is 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.