Mufg Securities Americas Inc. Invests $706,000 in Cummins Inc. (NYSE:CMI)

Mufg Securities Americas Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,025 shares of the company's stock, valued at approximately $706,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cummins during the fourth quarter worth approximately $499,490,000. Raymond James Financial Inc. bought a new position in shares of Cummins during the 4th quarter valued at $187,082,000. Vanguard Group Inc. raised its position in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock worth $5,912,830,000 after purchasing an additional 250,650 shares during the period. Northern Trust Corp boosted its position in Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock valued at $656,418,000 after buying an additional 246,807 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Cummins by 57.0% during the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock valued at $224,317,000 after buying an additional 233,694 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Stock Performance

Cummins stock opened at $333.47 on Thursday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $45.94 billion, a P/E ratio of 11.84, a PEG ratio of 2.19 and a beta of 1.02. The stock's 50 day moving average is $303.97 and its 200 day moving average is $341.37.

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 for the quarter, compared to analysts' expectations of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.08 earnings per share. On average, equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.18%. Cummins's dividend payout ratio is currently 36.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMI shares. UBS Group lowered Cummins from a "buy" rating to a "sell" rating and lowered their target price for the company from $400.00 to $240.00 in a research note on Monday, April 7th. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. raised their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Citigroup upped their price target on shares of Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday. Finally, Morgan Stanley raised their price target on shares of Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $354.83.

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.

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