Two Sigma Investments LP Has $2.54 Million Holdings in Cummins Inc. (NYSE:CMI)

Two Sigma Investments LP lessened its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 62.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,287 shares of the company's stock after selling 12,282 shares during the quarter. Two Sigma Investments LP's holdings in Cummins were worth $2,540,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BankPlus Trust Department acquired a new position in Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in shares of Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after buying an additional 52 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Cummins during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Trading Down 0.4%

Shares of CMI stock traded down $1.41 on Wednesday, reaching $323.06. 533,173 shares of the stock were exchanged, compared to its average volume of 802,063. The stock has a 50 day moving average price of $303.88 and a 200 day moving average price of $339.06. The stock has a market cap of $44.50 billion, a PE ratio of 11.47, 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.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping analysts' consensus estimates of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.08 EPS. 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 will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.25%. Cummins's dividend payout ratio is presently 36.22%.

Insider Buying and Selling at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMI shares. Evercore ISI cut their price objective on Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Robert W. Baird cut their price target on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Truist Financial decreased their price objective on shares of Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Barclays lifted their target price on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and cut their target price for the company from $400.00 to $240.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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.