5,240 Shares in Cummins Inc. (NYSE:CMI) Bought by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,240 shares of the company's stock, valued at approximately $1,642,000.

A number of other institutional investors have also modified their holdings of the stock. Meeder Asset Management Inc. boosted its holdings in Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Cummins during the first quarter worth about $30,000. Capital A Wealth Management LLC purchased a new position in Cummins in the fourth quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Cummins during the 1st quarter valued at approximately $37,000. Finally, Richardson Financial Services Inc. acquired a new stake in Cummins in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Performance

Cummins stock traded up $4.01 during mid-day trading on Friday, reaching $369.28. The company's stock had a trading volume of 697,921 shares, compared to its average volume of 893,558. The firm has a market cap of $50.87 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.05 and a beta of 1.03. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The business has a 50 day moving average price of $330.38 and a 200-day moving average price of $330.89. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40.

Cummins (NYSE:CMI - Get Free Report) last released 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. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 8.20% and a return on equity of 26.88%. Cummins's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.08 earnings per share. Sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $8.00 annualized dividend and a dividend yield of 2.17%. This is a positive change from Cummins's previous quarterly dividend of $1.82. Cummins's dividend payout ratio is currently 36.22%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMI shares. Morgan Stanley upped their target price on shares of Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Evercore ISI cut their price target on Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a report on Monday, May 19th. UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and lowered their price objective for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Barclays raised their price target on Cummins from $381.00 to $387.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Finally, The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and upped their target price for the stock from $410.00 to $431.00 in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $361.92.

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 stock was purchased at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the transaction, the director owned 2,441 shares in the company, valued at approximately $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

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.