Stevens Capital Management LP Has $766,000 Stake in Cummins Inc. (NYSE:CMI)

Stevens Capital Management LP lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 57.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,198 shares of the company’s stock after purchasing an additional 804 shares during the quarter. Stevens Capital Management LP’s holdings in Cummins were worth $766,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CMI. LPL Financial LLC lifted its stake in Cummins by 5.6% in the fourth quarter. LPL Financial LLC now owns 334,662 shares of the company’s stock valued at $116,663,000 after buying an additional 17,662 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Cummins in the 4th quarter valued at $40,717,000. Knights of Columbus Asset Advisors LLC boosted its stake in Cummins by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 35,092 shares of the company’s stock worth $12,233,000 after purchasing an additional 391 shares during the period. Sfmg LLC bought a new position in Cummins during the 4th quarter worth about $327,000. Finally, Sei Investments Co. raised its stake in shares of Cummins by 21.0% in the 4th quarter. Sei Investments Co. now owns 160,974 shares of the company’s stock valued at $56,116,000 after purchasing an additional 27,943 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $321.78 on Friday. The firm’s fifty day moving average price is $355.99 and its two-hundred day moving average price is $347.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The company has a market cap of $44.24 billion, a P/E ratio of 11.42, a P/E/G 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.

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

Cummins Announces Dividend

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 of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.26%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMI. Evercore ISI increased their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays lifted 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. JPMorgan Chase & Co. reduced their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus price target 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.