UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $566.86 Million Holdings in Cummins Inc. (NYSE:CMI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cummins Inc. (NYSE:CMI) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,626,093 shares of the company’s stock after acquiring an additional 99,009 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.19% of Cummins worth $566,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Cummins by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock valued at $5,912,830,000 after acquiring an additional 250,650 shares in the last quarter. Geode Capital Management LLC increased its position in Cummins by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company’s stock valued at $1,174,504,000 after acquiring an additional 84,112 shares in the last quarter. Fisher Asset Management LLC increased its position in Cummins by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock valued at $1,071,059,000 after acquiring an additional 66,887 shares in the last quarter. Northern Trust Corp increased its position in Cummins by 15.1% in the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock valued at $656,418,000 after acquiring an additional 246,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cummins by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,585,802 shares of the company’s stock valued at $552,820,000 after acquiring an additional 12,722 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 1.5%

Cummins stock opened at $331.47 on Wednesday. The company’s 50 day simple moving average is $304.55 and its 200 day simple moving average is $341.51. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a market capitalization of $45.66 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80.

Cummins (NYSE:CMI) last released its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the firm earned $5.08 EPS. Cummins’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, May 23rd. Cummins’s payout ratio is currently 36.22%.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone purchased 1,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the purchase, the director now owns 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CMI shares. Evercore ISI lowered their price target on shares of Cummins from $451.00 to $419.00 and set an “outperform” rating for the company in a research report on Monday. Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Robert W. Baird lowered their price target on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Truist Financial lowered their price target on shares of Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $352.17.

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.