Candriam S.C.A. Purchases 4,065 Shares of Cummins Inc. (NYSE:CMI)

Candriam S.C.A. raised its stake in shares of Cummins Inc. (NYSE:CMI) by 35.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,576 shares of the company’s stock after purchasing an additional 4,065 shares during the period. Candriam S.C.A.’s holdings in Cummins were worth $5,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC raised 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 valued at $26,000 after purchasing an additional 28 shares during the period. BankPlus Trust Department purchased a new stake in shares of Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cummins in the fourth quarter worth approximately $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the third quarter worth approximately $32,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 0.8 %

Shares of NYSE CMI opened at $341.97 on Friday. 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 market capitalization of $47.01 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The stock’s fifty day simple moving average is $361.77 and its two-hundred day simple moving average is $346.22. Cummins Inc. has a 12-month low of $260.88 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results 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. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 EPS. As a group, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given 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 2.13%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMI shares. Citigroup reduced their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird increased their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $386.67.

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.