denkapparat Operations GmbH Invests $630,000 in Cummins Inc. (NYSE:CMI)

denkapparat Operations GmbH purchased a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,808 shares of the company’s stock, valued at approximately $630,000. Cummins makes up 0.9% of denkapparat Operations GmbH’s investment portfolio, making the stock its 26th biggest holding.

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

Cummins Price Performance

Shares of NYSE CMI opened at $323.93 on Friday. 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 firm has a market capitalization of $44.53 billion, a PE ratio of 11.50, a P/E/G ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The business’s fifty day moving average price is $353.22 and its two-hundred day moving average price is $347.93.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business 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 company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.14 EPS. On average, research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.25%. Cummins’s dividend payout ratio is presently 25.84%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CMI shares. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Barclays increased their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group cut their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $389.50.

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.