Quent Capital LLC Has $216,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

Quent Capital LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 620 shares of the company’s stock after purchasing an additional 33 shares during the quarter. Quent Capital LLC’s holdings in Cummins were worth $216,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC lifted its position in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. FMR LLC lifted its position in Cummins by 0.8% in the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after acquiring an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CMI shares. Barclays raised their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Truist Financial lifted their target price 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. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $383.08.

Cummins Trading Down 2.3 %

NYSE:CMI opened at $364.08 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock has a market capitalization 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 firm’s 50 day moving average is $361.68 and its 200 day moving average is $337.74. Cummins Inc. has a 12 month low of $250.90 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the business earned $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Cummins Inc. will post 22.57 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date of this dividend 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 25.84%.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

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.