Vinva Investment Management Ltd Raises Holdings in Cummins Inc. (NYSE:CMI)

Vinva Investment Management Ltd increased its position in Cummins Inc. (NYSE:CMI) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,850 shares of the company’s stock after buying an additional 169 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cummins were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC raised its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department acquired a new stake in Cummins in the 4th quarter valued at $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the 4th quarter valued at $27,000. TCTC Holdings LLC acquired a new stake in Cummins in the 4th quarter valued at $28,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Cummins in the 4th quarter valued at $30,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Down 0.5 %

NYSE:CMI opened at $325.38 on Friday. The company has a market capitalization of $44.73 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The stock has a 50-day simple moving average of $356.66 and a 200 day simple moving average of $347.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last posted its quarterly 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. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $4.14 earnings per share. Sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.24%. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent research reports. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus target price of $389.50.

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.