Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Holdings in Cummins Inc. (NYSE:CMI)

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,370 shares of the company’s stock after purchasing an additional 1,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cummins were worth $13,724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Cummins during the fourth quarter worth $27,000. Prospera Private Wealth LLC purchased a new position in Cummins during the third quarter valued at $32,000. Kestra Investment Management LLC purchased a new position in Cummins during the fourth quarter valued at $43,000. Finally, Friedenthal Financial bought a new stake in Cummins in the 4th quarter valued at $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 4.6 %

CMI stock opened at $366.79 on Monday. Cummins Inc. has a twelve month low of $259.06 and a twelve month high of $387.90. The stock has a market capitalization of $50.43 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $361.51 and its two-hundred day simple moving average is $342.40.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion for 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%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.14 EPS. As a group, analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. Cummins’s payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Evercore ISI increased their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.