Vise Technologies Inc. Has $946,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

Vise Technologies Inc. lifted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 112.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,714 shares of the company's stock after purchasing an additional 1,438 shares during the quarter. Vise Technologies Inc.'s holdings in Cummins were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. BankPlus Trust Department bought a new position in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc bought a new position in shares of Cummins during the 4th quarter valued at about $27,000. Meeder Asset Management Inc. lifted its stake in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after buying an additional 52 shares in the last quarter. TCTC Holdings LLC bought a new position in Cummins in the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins in the fourth quarter valued at approximately $30,000. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cummins

In other news, Director John H. Stone purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average cost of $332.08 per share, with a total value of $332,080.00. Following the acquisition, the director now owns 2,441 shares in the company, valued at approximately $810,607.28. This trade represents a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Cummins Stock Performance

CMI stock traded down $2.95 during trading hours on Wednesday, reaching $323.31. The stock had a trading volume of 449,432 shares, compared to its average volume of 802,917. The stock has a market capitalization of $44.54 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. 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 stock has a 50-day simple moving average of $304.20 and a 200 day simple moving average of $340.53. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the business posted $5.08 EPS. Cummins's revenue was down 2.7% on a year-over-year basis. Analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared 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. This represents a $7.28 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins's dividend payout ratio is 36.22%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMI shares. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Wall Street Zen cut Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Evercore ISI reduced their price objective on Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Citigroup upped their price objective on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Robert W. Baird reduced their price target on Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. One equities 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 company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $357.25.

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.