Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Takes $28.69 Million Position in Cummins Inc. (NYSE:CMI)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, HoldingsChannel reports. The fund acquired 82,300 shares of the company’s stock, valued at approximately $28,690,000. Cummins makes up 39.4% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings, making the stock its largest position.

A number of other institutional investors have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC increased its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department bought a new stake in Cummins in the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the fourth quarter worth $27,000. TCTC Holdings LLC bought a new position in Cummins in the fourth quarter worth about $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins in the fourth quarter worth $30,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMI shares. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Truist Financial increased 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. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI increased their price objective on shares of 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

CMI stock opened at $313.45 on Friday. Cummins Inc. has a one year low of $261.51 and a one year high of $387.90. The firm has a 50-day simple moving average of $352.17 and a two-hundred day simple moving average of $348.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the company posted $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

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.