Axa S.A. Sells 16,483 Shares of Cummins Inc. (NYSE:CMI)

AXA S.A. lessened its stake in Cummins Inc. (NYSE:CMI - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,046 shares of the company's stock after selling 16,483 shares during the quarter. AXA S.A. owned 0.17% of Cummins worth $83,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cummins by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock worth $5,912,830,000 after acquiring an additional 250,650 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cummins by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company's stock worth $1,174,504,000 after buying an additional 84,112 shares during the period. Fisher Asset Management LLC raised its position in Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock valued at $1,071,059,000 after purchasing an additional 66,887 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Cummins by 15.1% in the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock valued at $656,418,000 after acquiring an additional 246,807 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cummins by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,585,802 shares of the company's stock valued at $552,820,000 after purchasing an additional 12,722 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Trading Up 0.7 %

Shares of Cummins stock traded up $2.14 on Monday, reaching $301.99. 1,729,441 shares of the company were exchanged, compared to its average volume of 807,322. The stock has a fifty day moving average price of $309.16 and a 200-day moving average price of $342.27. The firm has a market capitalization of $41.60 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 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 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.08 earnings per share. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley cut their price objective on Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Citigroup lowered their price objective on shares of Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays raised their price objective 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. Robert W. Baird dropped their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Truist Financial reduced their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cummins has an average rating of "Hold" and an average price target of $346.00.

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.