Lbp Am Sa Acquires 10,556 Shares of Cummins Inc. (NYSE:CMI)

Lbp Am Sa grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 122.3% in the fourth quarter, HoldingsChannel reports. The fund owned 19,186 shares of the company’s stock after purchasing an additional 10,556 shares during the quarter. Lbp Am Sa’s holdings in Cummins were worth $6,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Integras Partners LLC bought a new stake in shares of Cummins during the 4th quarter valued at $2,839,000. Madison Investment Advisors LLC bought a new stake in shares of Cummins during the 4th quarter valued at $10,828,000. Thompson Siegel & Walmsley LLC grew its position in shares of Cummins by 18.2% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 12,570 shares of the company’s stock valued at $4,382,000 after acquiring an additional 1,931 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Cummins by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 69,567 shares of the company’s stock worth $24,251,000 after buying an additional 1,972 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in Cummins by 24.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 3,669 shares of the company’s stock worth $1,279,000 after buying an additional 715 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 3.0 %

Shares of CMI stock opened at $322.24 on Friday. The company’s fifty day simple moving average is $359.39 and its two-hundred day simple moving average is $346.59. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $44.30 billion, a P/E ratio of 11.44, a PEG ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion for 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%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.14 EPS. Analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is 25.84%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CMI shares. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Friday. Finally, Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $386.67.

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.