Stevens Capital Management LP Has $766,000 Position in Cummins Inc. (NYSE:CMI)

Stevens Capital Management LP raised its stake in Cummins Inc. (NYSE:CMI) by 57.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,198 shares of the company’s stock after acquiring an additional 804 shares during the period. Stevens Capital Management LP’s holdings in Cummins were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CMI. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of Cummins in the 4th quarter valued at approximately $26,000. Compass Financial Services Inc acquired a new position in shares of Cummins in the 4th quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cummins during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in Cummins in the fourth quarter valued at approximately $30,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Shares of NYSE:CMI opened at $321.78 on Friday. The firm has a market cap of $44.24 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. Cummins Inc. has a 52 week low of $261.51 and a 52 week high of $387.90. The firm’s fifty day moving average is $355.99 and its 200-day moving average is $347.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the business earned $4.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMI shares. JPMorgan Chase & Co. cut their target price on Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Evercore ISI boosted their target price on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. UBS Group reduced their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $389.50.

Cummins 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.