Cummins Inc. (NYSE:CMI) Shares Bought by Xponance Inc.

Xponance Inc. boosted its position in shares of Cummins Inc. (NYSE:CMI) by 18.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 22,570 shares of the company’s stock after acquiring an additional 3,497 shares during the quarter. Xponance Inc.’s holdings in Cummins were worth $7,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC lifted its holdings 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 valued at $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department acquired a new position in shares of Cummins in the 4th quarter valued at about $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins in the 4th quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in shares of Cummins in the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Cummins in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group decreased their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $389.50.

Cummins Price Performance

NYSE:CMI opened at $327.24 on Thursday. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The stock has a 50 day moving average of $357.35 and a two-hundred day moving average of $347.20. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The firm has a market cap of $44.99 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its 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. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 EPS. On average, analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders 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 2.22%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

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.