Jump Financial LLC bought a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,894 shares of the company's stock, valued at approximately $1,009,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. KG&L Capital Management LLC lifted its position in shares of Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock valued at $1,296,000 after buying an additional 28 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after buying an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its position in shares of Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after purchasing an additional 30 shares in the last quarter. Finally, Avestar Capital LLC increased its position in shares of Cummins by 3.2% during the fourth quarter. Avestar Capital LLC now owns 987 shares of the company's stock valued at $344,000 after buying an additional 31 shares during the period. 83.46% of the stock is owned by institutional investors.
Cummins Stock Performance
Shares of NYSE CMI traded down $0.40 during midday trading on Friday, hitting $293.56. 576,426 shares of the stock traded hands, compared to its average volume of 805,761. The firm has a market capitalization of $40.44 billion, a P/E ratio of 10.42, a PEG ratio of 2.19 and a beta of 1.07. 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 quick ratio of 0.80 and a current ratio of 1.31. The firm has a 50-day moving average of $318.12 and a two-hundred day moving average of $343.74.
Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the company posted $4.14 EPS. The business's quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.48%. Cummins's payout ratio is presently 25.84%.
Analyst Ratings Changes
Several research firms recently issued reports on CMI. StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Morgan Stanley cut their price target on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird dropped their price target on Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Truist Financial lowered their price objective on Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $346.00.
Check Out Our Latest Research Report on CMI
Cummins Profile
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Free Report)
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.
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