Janus Henderson Group PLC Has $33.01 Million Holdings in Cummins Inc. (NYSE:CMI)

Janus Henderson Group PLC boosted its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,641 shares of the company's stock after purchasing an additional 15,271 shares during the quarter. Janus Henderson Group PLC owned approximately 0.07% of Cummins worth $33,008,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% in the fourth 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 period. KG&L Capital Management LLC boosted its holdings in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock valued at $1,296,000 after acquiring an additional 28 shares during the period. Signaturefd LLC boosted its holdings in shares of Cummins by 0.9% during the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after acquiring an additional 28 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Cummins by 1.2% during the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock valued at $856,000 after acquiring an additional 28 shares during the period. Finally, Massachusetts Wealth Management boosted its holdings in shares of Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Price Performance

Cummins stock traded up $2.67 during midday trading on Friday, hitting $334.78. The company's stock had a trading volume of 782,982 shares, compared to its average volume of 806,851. 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 stock's 50-day moving average price is $304.05 and its 200-day moving average price is $341.44. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The company has a market capitalization of $46.12 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS 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 firm had revenue of $8.17 billion for the quarter, compared to analysts' expectations of $8.22 billion. During the same period in the previous year, the business earned $5.08 earnings per share. Cummins's revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins's dividend payout ratio (DPR) is presently 36.22%.

Insiders Place Their Bets

In other Cummins news, Director John H. Stone purchased 1,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were purchased at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the transaction, the director now owns 2,441 shares in the company, valued at $810,607.28. The trade was a 69.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMI. 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. Morgan Stanley boosted their price target on shares of Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Citigroup boosted their price target on shares of Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, May 12th. Barclays boosted 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. Finally, UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and reduced their price target for the company from $400.00 to $240.00 in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $354.83.

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.