22,572 Shares in Cummins Inc. (NYSE:CMI) Acquired by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan acquired a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,572 shares of the company's stock, valued at approximately $7,869,000.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Cummins during the fourth quarter worth $773,000. CreativeOne Wealth LLC boosted its stake in Cummins by 5.9% in the 4th quarter. CreativeOne Wealth LLC now owns 966 shares of the company's stock worth $337,000 after purchasing an additional 54 shares during the period. Mariner LLC raised its stake in Cummins by 6.2% during the 4th quarter. Mariner LLC now owns 168,603 shares of the company's stock valued at $58,775,000 after purchasing an additional 9,838 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Cummins by 5.3% in the fourth quarter. Cohen & Steers Inc. now owns 1,117 shares of the company's stock valued at $389,000 after purchasing an additional 56 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Cummins by 12.6% in the fourth quarter. Synovus Financial Corp now owns 17,887 shares of the company's stock worth $6,236,000 after buying an additional 1,996 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Robert W. Baird reduced their price target on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday. Truist Financial lowered their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Finally, Morgan Stanley lowered their price objective on Cummins from $425.00 to $340.00 and set an "overweight" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $346.00.

Cummins Price Performance

Shares of CMI stock traded up $0.81 on Friday, reaching $281.37. The company had a trading volume of 624,084 shares, compared to its average volume of 811,560. The business's 50-day moving average is $326.83 and its 200 day moving average is $345.26. The stock has a market capitalization of $38.76 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90.

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

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio is currently 25.84%.

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.