129,131 Shares in Cummins Inc. (NYSE:CMI) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 129,131 shares of the company's stock, valued at approximately $45,015,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of Cummins at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. FMR LLC boosted its stake in Cummins by 5.7% in 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 stake in shares of Cummins by 72.3% in the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company's stock valued at $2,857,000 after purchasing an additional 3,440 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Cummins by 4.2% in the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company's stock valued at $28,359,000 after purchasing an additional 3,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cummins by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company's stock valued at $54,876,000 after purchasing an additional 6,107 shares in the last quarter. Finally, Heritage Trust Co acquired a new position in shares of Cummins in the 4th quarter valued at about $1,422,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Activity

In other news, Director John H. Stone purchased 1,000 shares of the stock in a transaction dated 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 acquisition, the director now owns 2,441 shares of the company's stock, valued at $810,607.28. The trade was a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company's stock.

Cummins Stock Down 1.2%

CMI stock traded down $4.02 during midday trading on Friday, hitting $320.84. 1,489,393 shares of the company's stock were exchanged, compared to its average volume of 805,237. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90. The firm has a 50 day moving average price of $304.10 and a 200-day moving average price of $340.18. The stock has a market capitalization of $44.20 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period in the previous year, the business earned $5.08 EPS. Cummins's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.27%. Cummins's dividend payout ratio (DPR) is 36.22%.

Analyst Upgrades and Downgrades

CMI has been the topic of several research analyst reports. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price objective on Cummins from $308.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wall Street Zen lowered Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Morgan Stanley boosted their price target on Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Truist Financial reduced their price target on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins presently has an average rating of "Hold" and a consensus target price 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.