Cummins Inc. (NYSE:CMI) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC boosted its stake in Cummins Inc. (NYSE:CMI) by 41,133.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,237 shares of the company’s stock after acquiring an additional 1,234 shares during the quarter. AlphaQuest LLC’s holdings in Cummins were worth $431,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new position in Cummins during the fourth quarter worth approximately $26,000. Compass Financial Services Inc acquired a new position in Cummins during the fourth quarter worth $27,000. SBI Securities Co. Ltd. purchased a new stake in Cummins in the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMI shares. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $386.67.

Cummins Stock Down 5.5 %

Shares of Cummins stock opened at $312.65 on Friday. The company has a market cap of $42.98 billion, a P/E ratio of 11.10, a PEG ratio of 2.19 and a beta of 1.01. The firm has a fifty day moving average of $360.03 and a two-hundred day moving average of $346.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during 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 was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 earnings per share. On average, analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

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.