DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $36.78 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its position in Cummins Inc. (NYSE:CMI - Free Report) by 61.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,512 shares of the company's stock after selling 165,083 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.08% of Cummins worth $36,781,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMI. Global Trust Asset Management LLC raised its position in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department purchased a new position in Cummins in the fourth quarter valued at about $26,000. Compass Financial Services Inc purchased a new position in Cummins in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC purchased a new position in Cummins in the fourth quarter valued at about $28,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 0.1%

Shares of CMI stock traded up $0.40 on Friday, reaching $306.81. 512,986 shares of the stock were exchanged, compared to its average volume of 807,286. The stock has a market cap of $42.26 billion, a PE ratio of 10.89, a P/E/G ratio of 2.19 and a beta of 1.02. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a 50 day moving average price of $304.66 and a 200 day moving average price of $341.45.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm's revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.08 earnings per share. Equities research analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid 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 yield of 2.37%. Cummins's payout ratio is 36.22%.

Analyst Upgrades and Downgrades

CMI has been the topic of several research reports. StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Citigroup dropped their price objective on Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Truist Financial dropped their price objective on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $352.33.

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.