Siemens Fonds Invest GmbH Acquires 398 Shares of Cummins Inc. (NYSE:CMI)

Siemens Fonds Invest GmbH lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,433 shares of the company’s stock after acquiring an additional 398 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Cummins were worth $1,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Mariner Investment Group LLC purchased a new stake in shares of Cummins in the 4th quarter worth about $1,046,000. FMR LLC lifted its holdings in Cummins by 5.7% in the fourth quarter. FMR LLC now owns 1,242,362 shares of the company’s stock worth $433,087,000 after buying an additional 67,266 shares during the period. Fayez Sarofim & Co boosted its position in Cummins by 72.3% during the 4th quarter. Fayez Sarofim & Co now owns 8,195 shares of the company’s stock valued at $2,857,000 after acquiring an additional 3,440 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Cummins by 4.2% during the 4th quarter. National Bank of Canada FI now owns 81,344 shares of the company’s stock worth $28,359,000 after acquiring an additional 3,298 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cummins by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,419 shares of the company’s stock worth $54,876,000 after acquiring an additional 6,107 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of several research reports. Morgan Stanley lifted their price target on Cummins from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI increased their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial dropped their price objective on shares of Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $354.83.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone acquired 1,000 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was purchased at an average cost of $332.08 per share, with a total value of $332,080.00. Following the completion of the acquisition, the director now directly owns 2,441 shares of the company’s stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $334.78 on Friday. The firm has a market cap of $46.12 billion, a P/E ratio of 11.88, a PEG ratio of 2.19 and a beta of 1.02. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $304.05 and a 200 day moving average of $341.37.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.08 earnings per share. As a group, research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, May 23rd. Cummins’s dividend payout ratio is currently 36.22%.

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.