Curat Global LLC Buys Shares of 2,575 Cummins Inc. (NYSE:CMI)

Curat Global LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,575 shares of the company's stock, valued at approximately $807,000. Cummins makes up 1.0% of Curat Global LLC's portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Cummins by 5.7% during the 4th quarter. FMR LLC now owns 1,242,362 shares of the company's stock worth $433,087,000 after buying an additional 67,266 shares during the last quarter. Fayez Sarofim & Co lifted its position in shares of Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock worth $2,857,000 after buying an additional 3,440 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Cummins by 4.2% during the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock worth $28,359,000 after buying an additional 3,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cummins by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock worth $54,876,000 after buying an additional 6,107 shares during the last quarter. Finally, Heritage Trust Co purchased a new stake in shares of Cummins during the 4th quarter worth approximately $1,422,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Performance

Shares of CMI stock traded up $3.62 during mid-day trading on Friday, hitting $326.74. The stock had a trading volume of 523,655 shares, compared to its average volume of 798,981. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a market cap of $45.01 billion, a PE ratio of 11.60, a PEG ratio of 2.19 and a beta of 1.04. 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 company's 50-day simple moving average is $304.31 and its 200-day simple moving average is $338.53.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (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 net margin of 11.57% and a return on equity of 27.12%. The business's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $5.08 EPS. Sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a dividend of $1.82 per share. The ex-dividend date was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.23%. Cummins's payout ratio is 36.22%.

Insiders Place Their Bets

In other news, Director John H. Stone bought 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were bought 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. This trade represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMI. Evercore ISI reduced their price objective on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. The Goldman Sachs Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $410.00 to $431.00 in a research report on Tuesday, May 27th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, Citigroup upped their price target on shares of Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cummins presently has a consensus rating of "Hold" and a consensus price target of $357.25.

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.