Cummins Inc. (NYSE:CMI) Shares Sold by Twin Tree Management LP

Twin Tree Management LP lessened its position in shares of Cummins Inc. (NYSE:CMI) by 85.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,986 shares of the company’s stock after selling 35,314 shares during the period. Twin Tree Management LP’s holdings in Cummins were worth $2,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SlateStone Wealth LLC grew its holdings in Cummins by 8.3% during the 4th quarter. SlateStone Wealth LLC now owns 4,984 shares of the company’s stock worth $1,737,000 after acquiring an additional 383 shares in the last quarter. Northern Capital Management Inc. acquired a new position in Cummins during the 4th quarter worth approximately $213,000. Harbour Investments Inc. grew its holdings in Cummins by 2.3% during the 4th quarter. Harbour Investments Inc. now owns 1,723 shares of the company’s stock worth $601,000 after acquiring an additional 39 shares in the last quarter. Choate Investment Advisors grew its holdings in Cummins by 12.9% during the 4th quarter. Choate Investment Advisors now owns 768 shares of the company’s stock worth $268,000 after acquiring an additional 88 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Cummins by 3.1% during the 4th quarter. Natixis Advisors LLC now owns 101,682 shares of the company’s stock worth $35,446,000 after acquiring an additional 3,017 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Citigroup reduced their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine equities 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $389.50.

Cummins Stock Down 1.2 %

CMI stock opened at $322.19 on Wednesday. The company has a market cap of $44.30 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90. The company has a fifty day moving average price of $358.00 and a 200 day moving average price of $347.35.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.14 EPS. Sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.26%. Cummins’s payout ratio is currently 25.84%.

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.