2,110 Shares in Cummins Inc. (NYSE:CMI) Purchased by Allianz SE

Allianz SE acquired a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,110 shares of the company’s stock, valued at approximately $736,000.

Several other institutional investors have also added to or reduced their stakes in CMI. Hobbs Group Advisors LLC lifted its stake in shares of Cummins by 82.5% during the 4th quarter. Hobbs Group Advisors LLC now owns 3,795 shares of the company’s stock worth $1,323,000 after acquiring an additional 1,716 shares during the last quarter. Allstate Corp purchased a new stake in shares of Cummins during the fourth quarter valued at $1,435,000. Brown Brothers Harriman & Co. grew its holdings in shares of Cummins by 5.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,718 shares of the company’s stock worth $1,296,000 after purchasing an additional 179 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new position in Cummins in the 4th quarter worth about $28,690,000. Finally, Level Four Advisory Services LLC lifted its holdings in Cummins by 1.8% during the 4th quarter. Level Four Advisory Services LLC now owns 20,704 shares of the company’s stock valued at $7,218,000 after buying an additional 364 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 3.1 %

NYSE:CMI opened at $313.45 on Monday. The company’s 50-day simple moving average is $352.17 and its 200-day simple moving average is $348.80. 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 Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90. The stock has a market capitalization of $43.09 billion, a P/E ratio of 11.13, a P/E/G ratio of 2.19 and a beta of 1.01.

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

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $389.50.

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.