Cummins Inc. (NYSE:CMI) Shares Acquired by Level Four Advisory Services LLC

Level Four Advisory Services LLC increased its stake in Cummins Inc. (NYSE:CMI) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,704 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Level Four Advisory Services LLC’s holdings in Cummins were worth $7,218,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CMI. Norges Bank acquired a new position in shares of Cummins during the 4th quarter worth about $499,490,000. Raymond James Financial Inc. acquired a new position in Cummins in the 4th quarter valued at $187,082,000. Vanguard Group Inc. lifted its holdings in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after purchasing an additional 250,650 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Cummins in the fourth quarter valued at about $71,279,000. Finally, Amundi lifted its stake in shares of Cummins by 32.3% in the fourth quarter. Amundi now owns 771,038 shares of the company’s stock worth $277,381,000 after buying an additional 188,254 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMI shares. Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group cut their price objective on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Evercore ISI upped 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. Truist Financial increased their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $389.50.

Cummins Price Performance

Shares of NYSE:CMI opened at $323.93 on Friday. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The stock has a market capitalization of $44.53 billion, a P/E ratio of 11.50, a P/E/G 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. The business has a 50-day moving average of $353.22 and a two-hundred day moving average of $347.93.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm 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 business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.14 EPS. On average, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 annualized dividend and a yield of 2.25%. Cummins’s dividend payout ratio (DPR) is 25.84%.

About Cummins

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.