Mubadala Investment Co PJSC Purchases Shares of 11,195 Cummins Inc. (NYSE:CMI)

Mubadala Investment Co PJSC purchased a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,195 shares of the company's stock, valued at approximately $3,903,000. Cummins makes up about 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 19th biggest position.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins in the fourth quarter worth $27,000. Meeder Asset Management Inc. lifted its holdings in shares of Cummins by 208.0% in the fourth 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. Finally, TCTC Holdings LLC purchased a new position in shares of Cummins in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Trading Up 0.8%

CMI stock traded up $2.67 during mid-day trading on Friday, reaching $334.78. 782,982 shares of the stock traded hands, compared to its average volume of 807,865. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The stock has a market capitalization of $46.12 billion, a PE ratio of 11.88, a PEG ratio of 2.19 and a beta of 1.02. The business has a 50-day moving average price of $303.94 and a two-hundred day moving average price of $341.35.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.08 earnings per share. Equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business 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. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins's payout ratio is presently 36.22%.

Insiders Place Their Bets

In other Cummins news, Director John H. Stone bought 1,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares in the company, valued at approximately $810,607.28. The trade was a 69.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CMI. Evercore ISI boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Morgan Stanley boosted their price target on shares of Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, Citigroup boosted their price target on shares of Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $354.83.

Cummins Company 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.