Union Bancaire Privee UBP SA Invests $6.28 Million in Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 18,574 shares of the company’s stock, valued at approximately $6,284,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. Pathway Financial Advisers LLC lifted its holdings in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after buying an additional 165,398 shares in the last quarter. State Street Corp boosted its position in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the period. abrdn plc boosted its holdings in Cummins by 22.5% in the 3rd quarter. abrdn plc now owns 611,810 shares of the company’s stock valued at $198,119,000 after purchasing an additional 112,529 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $366.79 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 $50.43 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The stock’s 50 day simple moving average is $361.51 and its 200 day simple moving average is $342.05. Cummins Inc. has a 12-month low of $259.06 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 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the firm earned $4.14 EPS. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is 25.84%.

Analyst Ratings Changes

Several equities analysts have recently commented on CMI shares. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird raised their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $386.67.

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.