Y Intercept Hong Kong Ltd Invests $2.53 Million in Cummins Inc. (NYSE:CMI)

Y Intercept Hong Kong Ltd bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,265 shares of the company’s stock, valued at approximately $2,533,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Black Diamond Financial LLC bought a new position in shares of Cummins in the fourth quarter worth about $237,000. Union Bancaire Privee UBP SA bought a new position in Cummins in the 4th quarter valued at approximately $6,284,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Cummins by 4.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,370 shares of the company’s stock valued at $13,724,000 after buying an additional 1,600 shares during the last quarter. Ascent Wealth Partners LLC raised its holdings in Cummins by 95.6% in the 4th quarter. Ascent Wealth Partners LLC now owns 18,635 shares of the company’s stock valued at $6,496,000 after buying an additional 9,107 shares during the last quarter. Finally, MONECO Advisors LLC raised its holdings in Cummins by 2.2% in the 4th quarter. MONECO Advisors LLC now owns 1,816 shares of the company’s stock valued at $633,000 after buying an additional 39 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $360.44 on Tuesday. The company has a market cap of $49.55 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 52 week low of $260.88 and a 52 week high of $387.90. 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 has a 50 day moving average of $361.38 and a 200-day moving average of $342.85.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.14 EPS. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is 25.84%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMI shares. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Robert W. Baird raised their price target on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Cummins currently has an average 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.