Paradoxiom Capital L.P. Purchases Shares of 26,809 Cummins Inc. (NYSE:CMI)

Paradoxiom Capital L.P. bought a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,809 shares of the company's stock, valued at approximately $9,346,000. Cummins accounts for 3.9% of Paradoxiom Capital L.P.'s holdings, making the stock its 10th largest holding.

Several other large investors have also modified their holdings of the business. Global Trust Asset Management LLC raised its stake in shares of 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 acquiring an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins during the fourth quarter worth $27,000. Meeder Asset Management Inc. increased its position in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in shares of Cummins during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Price Performance

Shares of CMI traded up $2.67 during mid-day trading on Friday, hitting $334.78. 782,982 shares of the company were exchanged, compared to its average volume of 807,865. Cummins Inc. has a 1-year low of $260.02 and a 1-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 company has a 50 day moving average of $304.05 and a 200-day moving average of $341.37. The stock has a market cap of $46.12 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders 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 yield of 2.17%. Cummins's payout ratio is 36.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in 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 report on Wednesday, February 5th. StockNews.com lowered shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Robert W. Baird lowered their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and lowered their target price for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $354.83.

Insider Transactions at Cummins

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

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.