Susquehanna Fundamental Investments LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 103,537 shares of the company's stock, valued at approximately $36,093,000. Cummins comprises 0.5% of Susquehanna Fundamental Investments LLC's investment portfolio, making the stock its 22nd largest holding. Susquehanna Fundamental Investments LLC owned about 0.08% of Cummins as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CMI. Norges Bank acquired a new position in Cummins during the 4th quarter valued at $499,490,000. Raymond James Financial Inc. bought a new position in shares of Cummins in the 4th quarter valued at about $187,082,000. Vanguard Group Inc. raised its position in shares of Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after acquiring an additional 250,650 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Cummins by 57.0% during the 4th quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock valued at $224,317,000 after acquiring an additional 233,694 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Cummins during the 4th quarter valued at $71,279,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on CMI shares. Citigroup dropped their target price on shares of Cummins from $360.00 to $320.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lowered their target price on Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird decreased their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Truist Financial cut their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and cut their price objective for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins presently has an average rating of "Hold" and an average price target of $346.00.

Cummins Stock Up 1.2 %

Shares of NYSE:CMI traded up $3.48 during trading on Thursday, reaching $297.32. 267,969 shares of the stock traded hands, compared to its average volume of 909,593. The stock has a 50-day moving average of $313.00 and a two-hundred day moving average of $342.91. Cummins Inc. has a 52-week low of $260.02 and a 52-week 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 stock has a market cap of $40.95 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.14 earnings per share. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.45%. Cummins's dividend payout ratio (DPR) is 25.84%.

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.