4,200 Shares in Cummins Inc. (NYSE:CMI) Purchased by Symmetry Investments LP

Symmetry Investments LP bought a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,200 shares of the company's stock, valued at approximately $1,464,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cummins during the 4th quarter valued at about $499,490,000. Raymond James Financial Inc. bought a new stake in Cummins during the fourth quarter valued at approximately $187,082,000. Vanguard Group Inc. increased its holdings in Cummins by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after buying an additional 250,650 shares during the last quarter. Neuberger Berman Group LLC raised its position in Cummins by 57.0% in the fourth quarter. Neuberger Berman Group LLC now owns 643,482 shares of the company's stock worth $224,317,000 after acquiring an additional 233,694 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Cummins during the 4th quarter worth $71,279,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Stock Down 0.1 %

NYSE CMI traded down $0.25 during trading on Monday, hitting $293.01. The company's stock had a trading volume of 287,271 shares, compared to its average volume of 805,105. The company has a market cap of $40.36 billion, a PE ratio of 10.40, a P/E/G ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The business's 50 day simple moving average is $318.12 and its 200-day simple moving average is $343.89. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced 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 firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.14 earnings per share. On average, equities analysts anticipate 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 was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group cut Cummins from a "buy" rating to a "sell" rating and decreased their target price for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Morgan Stanley lowered their price objective on Cummins from $425.00 to $340.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup reduced their price objective on Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays increased their price target 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Cummins has an average rating of "Hold" and a consensus target price of $346.00.

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.