Mn Services Vermogensbeheer B.V. Grows Stake in Cummins Inc. (NYSE:CMI)

Mn Services Vermogensbeheer B.V. increased its stake in shares of Cummins Inc. (NYSE:CMI) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 56,403 shares of the company’s stock after purchasing an additional 1,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cummins were worth $19,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Harfst & Associates Inc. raised its holdings in shares of Cummins by 27.3% during the 4th quarter. Harfst & Associates Inc. now owns 10,175 shares of the company’s stock worth $3,547,000 after acquiring an additional 2,185 shares during the period. Gibraltar Capital Management Inc. purchased a new position in Cummins during the fourth quarter worth about $7,076,000. DMKC Advisory Services LLC acquired a new position in Cummins in the 4th quarter valued at about $1,978,000. Advisor OS LLC grew its stake in shares of Cummins by 68.9% in the 4th quarter. Advisor OS LLC now owns 2,470 shares of the company’s stock valued at $861,000 after buying an additional 1,008 shares during the period. Finally, Todd Asset Management LLC increased its holdings in shares of Cummins by 1.7% during the 4th quarter. Todd Asset Management LLC now owns 140,320 shares of the company’s stock worth $48,916,000 after buying an additional 2,377 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMI shares. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Truist Financial boosted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird increased their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and an average target price of $386.67.

Cummins Trading Down 0.6 %

NYSE:CMI opened at $364.35 on Friday. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90. The firm has a market cap of $50.09 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $361.99 and a 200 day moving average price of $343.63.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business posted $4.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate 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, March 6th. Shareholders of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio is presently 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.