Mizuho Securities USA LLC Acquires 4,115 Shares of Cummins Inc. (NYSE:CMI)

Mizuho Securities USA LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 46.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,002 shares of the company’s stock after acquiring an additional 4,115 shares during the quarter. Mizuho Securities USA LLC’s holdings in Cummins were worth $4,532,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Millstone Evans Group LLC bought a new stake in Cummins during the 4th quarter worth approximately $184,000. Mindset Wealth Management LLC lifted its position in shares of Cummins by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 2,076 shares of the company’s stock worth $724,000 after purchasing an additional 35 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Cummins in the 4th quarter worth approximately $60,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Cummins by 13.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,056 shares of the company’s stock worth $368,000 after purchasing an additional 124 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Cummins by 870.9% in the 4th quarter. Teacher Retirement System of Texas now owns 85,102 shares of the company’s stock worth $29,667,000 after purchasing an additional 76,337 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

CMI opened at $321.78 on Monday. 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 company’s fifty day moving average price is $355.99 and its two-hundred day moving average price is $347.73. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the company posted $4.14 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s payout ratio is 25.84%.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial boosted their price target 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. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. UBS Group dropped their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $389.50.

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.