Caption Management LLC Invests $1.46 Million in Cummins Inc. (NYSE:CMI)

Caption Management LLC bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,200 shares of the company's stock, valued at approximately $1,464,000.

A number of other hedge funds have also made changes to their positions in the company. Centiva Capital LP lifted its position in shares of Cummins by 43.2% in the fourth quarter. Centiva Capital LP now owns 908 shares of the company's stock valued at $317,000 after acquiring an additional 274 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Cummins by 2.2% during the fourth quarter. Cetera Investment Advisers now owns 60,278 shares of the company's stock worth $21,013,000 after buying an additional 1,309 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Cummins by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 53,236 shares of the company's stock valued at $18,558,000 after buying an additional 2,285 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $322,000. Finally, Brown Advisory Inc. grew its stake in Cummins by 3.2% in the 4th quarter. Brown Advisory Inc. now owns 187,144 shares of the company's stock worth $65,239,000 after acquiring an additional 5,787 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMI. Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Citigroup dropped 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. JPMorgan Chase & Co. raised their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday. Truist Financial dropped their price target on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com lowered shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. 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 company's stock. According to MarketBeat, Cummins currently has an average rating of "Hold" and a consensus price target of $347.69.

Cummins Stock Up 0.1 %

Shares of CMI traded up $0.40 during trading on Friday, reaching $306.81. The company's stock had a trading volume of 512,986 shares, compared to its average volume of 807,079. The company has a market cap of $42.26 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 2.19 and a beta of 1.02. 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 fifty day moving average of $304.66 and a two-hundred day moving average of $341.31. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same period last year, the business earned $5.08 EPS. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.37%. Cummins's dividend payout ratio (DPR) is 36.22%.

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.