J2 Capital Management Inc Has $211,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

J2 Capital Management Inc decreased its position in Cummins Inc. (NYSE:CMI - Free Report) by 64.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 672 shares of the company's stock after selling 1,205 shares during the quarter. J2 Capital Management Inc's holdings in Cummins were worth $211,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Cummins in the 4th quarter worth approximately $499,490,000. GAMMA Investing LLC raised its stake in shares of Cummins by 38,220.5% in the first quarter. GAMMA Investing LLC now owns 1,191,385 shares of the company's stock valued at $373,428,000 after purchasing an additional 1,188,276 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cummins in the fourth quarter valued at $187,082,000. Vanguard Group Inc. raised its stake in Cummins by 1.5% during 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 in the last quarter. Finally, Northern Trust Corp raised its stake in Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock worth $656,418,000 after acquiring an additional 246,807 shares in the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

NYSE CMI traded down $4.90 on Monday, reaching $316.58. The stock had a trading volume of 809,091 shares, compared to its average volume of 802,560. 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 firm has a fifty day moving average of $303.91 and a two-hundred day moving average of $339.59. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. The company has a market cap of $43.61 billion, a P/E ratio of 11.24, 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 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 firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.08 EPS. On average, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, May 23rd. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their target price on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Evercore ISI cut their target price on Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Robert W. Baird cut their target price on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cummins currently has an average rating of "Hold" and a consensus price target of $357.25.

Insider Transactions at Cummins

In other news, Director John H. Stone bought 1,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was 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 of the company's stock, valued at $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.

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.