Generali Asset Management SPA SGR Acquires Shares of 5,817 Cummins Inc. (NYSE:CMI)

Generali Asset Management SPA SGR bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,817 shares of the company’s stock, valued at approximately $2,028,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in Cummins by 16.8% during the fourth quarter. Advisors Asset Management Inc. now owns 31,929 shares of the company’s stock valued at $11,130,000 after purchasing an additional 4,583 shares during the last quarter. Kennondale Capital Management LLC acquired a new stake in shares of Cummins during the 4th quarter valued at about $1,364,000. Mystic Asset Management Inc. acquired a new position in Cummins in the fourth quarter worth approximately $296,000. Axxcess Wealth Management LLC increased its holdings in Cummins by 133.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 5,798 shares of the company’s stock worth $2,021,000 after buying an additional 3,314 shares during the last quarter. Finally, Cozad Asset Management Inc. increased its holdings in Cummins by 2.9% in the fourth quarter. Cozad Asset Management Inc. now owns 3,493 shares of the company’s stock worth $1,218,000 after buying an additional 100 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Up 1.5 %

CMI opened at $327.24 on Thursday. Cummins Inc. has a 1-year low of $261.51 and a 1-year high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $44.99 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.19 and a beta of 1.01. The business has a 50 day moving average of $357.35 and a 200-day moving average of $347.20.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business earned $4.14 earnings per share. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 2.22%. Cummins’s dividend payout ratio is 25.84%.

Analysts Set New Price Targets

A number of research firms recently commented on CMI. Barclays increased their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on Cummins from $420.00 to $375.00 and set a “neutral” rating on the stock in a report on Tuesday. UBS Group dropped their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price 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.