Cummins Inc. (NYSE:CMI) is Two Point Capital Management Inc.’s 9th Largest Position

Two Point Capital Management Inc. lessened its stake in Cummins Inc. (NYSE:CMI) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 33,100 shares of the company’s stock after selling 135 shares during the period. Cummins comprises about 4.3% of Two Point Capital Management Inc.’s portfolio, making the stock its 9th largest holding. Two Point Capital Management Inc.’s holdings in Cummins were worth $12,153,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% in 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 during the period. KG&L Capital Management LLC boosted its position in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the period. Chicago Capital LLC boosted its position in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the period. Massachusetts Wealth Management boosted its position in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after buying an additional 30 shares during the period. Finally, Equitable Trust Co. boosted its position in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $364.08 on Thursday. Cummins Inc. has a 1-year low of $250.90 and a 1-year high of $387.90. The stock has a market cap of $49.94 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The firm has a fifty day moving average price of $361.68 and a 200 day moving average price of $337.74.

Cummins (NYSE:CMI) last announced 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $4.14 earnings per share. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.00%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. Truist Financial lifted their price objective 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. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $383.08.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

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.