Xponance Inc. Raises Holdings in Cummins Inc. (NYSE:CMI)

Xponance Inc. increased its holdings in Cummins Inc. (NYSE:CMI) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,570 shares of the company’s stock after acquiring an additional 3,497 shares during the period. Xponance Inc.’s holdings in Cummins were worth $7,868,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CMI. AMG National Trust Bank purchased a new position in Cummins in the third quarter worth approximately $219,000. Caprock Group LLC boosted its position in shares of Cummins by 3.1% during the third quarter. Caprock Group LLC now owns 8,579 shares of the company’s stock worth $2,778,000 after buying an additional 255 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Cummins by 2.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,610 shares of the company’s stock worth $1,169,000 after buying an additional 82 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Cummins during the third quarter worth $4,883,000. Finally, Avior Wealth Management LLC boosted its position in shares of Cummins by 44.9% during the third quarter. Avior Wealth Management LLC now owns 342 shares of the company’s stock worth $111,000 after buying an additional 106 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Up 1.5 %

Cummins stock opened at $327.24 on Thursday. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. 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 stock has a market cap of $44.99 billion, a PE ratio of 11.62, a P/E/G ratio of 2.19 and a beta of 1.01. The stock’s fifty day moving average is $357.35 and its two-hundred day moving average is $347.20.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the firm earned $4.14 earnings per share. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CMI shares. Truist Financial raised their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. UBS Group lowered their price target on Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Evercore ISI lifted their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $389.50.

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.