Cummins Inc. (NYSE:CMI) Stock Holdings Increased by Syon Capital LLC

Syon Capital LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 41.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,299 shares of the company’s stock after purchasing an additional 966 shares during the quarter. Syon Capital LLC’s holdings in Cummins were worth $790,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Cummins by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after acquiring an additional 2,055,239 shares in the last quarter. Norges Bank purchased a new stake in shares of Cummins during the 4th quarter worth about $298,867,000. International Assets Investment Management LLC raised its stake in shares of Cummins by 21,025.8% during the 4th quarter. International Assets Investment Management LLC now owns 735,177 shares of the company’s stock worth $176,126,000 after purchasing an additional 731,697 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Cummins during the 3rd quarter valued at about $71,268,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Cummins by 88.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 584,163 shares of the company’s stock valued at $133,458,000 after buying an additional 274,927 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In other news, VP Marvin Boakye bought 1,745 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $286.04 per share, with a total value of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Marvin Boakye bought 1,745 shares of Cummins stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of $286.04 per share, with a total value of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey T. Wiltrout purchased 282 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the purchase, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on CMI shares. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Truist Financial reiterated a “hold” rating and issued a $319.00 price objective on shares of Cummins in a report on Wednesday, May 15th. The Goldman Sachs Group raised their target price on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. upped their price target on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Finally, Evercore ISI boosted their target price on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $284.36.

Cummins Stock Performance

CMI traded down $3.90 during midday trading on Friday, reaching $266.48. The company’s stock had a trading volume of 897,844 shares, compared to its average volume of 784,398. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $286.06 and a 200 day simple moving average of $265.54. The stock has a market cap of $36.45 billion, a P/E ratio of 19.51, a PEG ratio of 1.66 and a beta of 1.02. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.36 billion. Research analysts expect that Cummins Inc. will post 18.84 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 24th were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $6.72 annualized dividend and a dividend yield of 2.52%. Cummins’s payout ratio is 49.19%.

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.