Susquehanna Fundamental Investments LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, Holdings Channel reports. The fund acquired 103,537 shares of the company’s stock, valued at approximately $36,093,000. Cummins accounts for approximately 0.5% of Susquehanna Fundamental Investments LLC’s portfolio, making the stock its 22nd largest position.

Several other institutional investors also recently modified their holdings of the stock. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new position in Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc bought a new position in Cummins in the fourth quarter valued at $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC bought a new stake in Cummins during the fourth quarter worth about $28,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Cummins stock opened at $293.56 on Friday. The firm has a 50-day moving average of $318.12 and a 200-day moving average of $343.74. The firm has a market cap of $40.44 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.19 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last posted 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 return on equity of 27.12% and a net margin of 11.57%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.14 earnings per share. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.48%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Analyst Ratings Changes

CMI has been the topic of several recent research reports. Truist Financial reduced their price objective on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. UBS Group downgraded shares of Cummins from a “buy” rating to a “sell” rating and decreased their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Barclays upped their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Evercore ISI lifted their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus price target of $346.00.

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.