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

denkapparat Operations GmbH purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,808 shares of the company’s stock, valued at approximately $630,000. Cummins accounts for approximately 0.9% of denkapparat Operations GmbH’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Mariner Investment Group LLC purchased a new stake in shares of Cummins in the fourth quarter valued at about $1,046,000. Franklin Resources Inc. boosted its holdings in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Cummins by 133.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 5,798 shares of the company’s stock worth $2,021,000 after purchasing an additional 3,314 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Cummins by 296.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock worth $4,128,000 after buying an additional 8,851 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in shares of Cummins by 2.0% in the 4th quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock valued at $38,481,000 after buying an additional 2,211 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Evercore ISI boosted their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price target on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Stock Performance

Shares of NYSE CMI opened at $323.93 on Friday. The company has a 50-day simple moving average of $353.22 and a 200-day simple moving average of $347.93. 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 company has a market cap of $44.53 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 12 month low of $261.51 and a 12 month high of $387.90.

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

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued 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 payout ratio is currently 25.84%.

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.