Cetera Investment Advisers boosted its position in Cummins Inc. (NYSE: CMI – Get Rating) by 16.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,478 shares of the company stock after acquiring an additional 617 shares during the period. Cetera Investment Advisers’ holdings in Cummins were worth $ 977,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CMI. Eagle Capital Management LLC boosted its holdings in Cummins by 1.7% in the second quarter. Eagle Capital Management LLC now owns 15,644 shares of the company stock worth $ 3,814,000 after acquiring an additional 260 shares in the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of Cummins in the third quarter worth approximately $ 229,000. Penserra Capital Management LLC raised its stake in shares of Cummins by 13.5% in the third quarter. Penserra Capital Management LLC now owns 632 shares of the company stock worth $ 141,000 after purchasing an additional 75 shares during the last quarter. Morgan Stanley raised its stake in shares of Cummins by 4.3% in the third quarter. Morgan Stanley now owns 965,609 shares of the company stock worth $ 216,837,000 after purchasing an additional 39,955 shares during the last quarter. Finally, MD Financial Management Inc. raised its stake in shares of Cummins by 14.5% in the third quarter. MD Financial Management Inc. now owns 7,180 shares of the company stock worth $ 1,612,000 after purchasing an additional 910 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company stock.
NYSE CMI opened at $ 205.50 on Friday. The stock has a market capitalization of $ 29.00 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.35 and a beta of 1.02. Cummins Inc. has a one year low of $ 187.72 and a one year high of $ 254.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.68 and a quick ratio of 1.07. The business’s fifty day moving average is $ 201.52 and its 200-day moving average is $ 211.09.
Cummins (NYSE: CMI – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $ 4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 3.55 by $ 0.49. Cummins had a return on equity of 23.19% and a net margin of 8.00%. The business had revenue of $ 6.39 billion for the quarter, compared to analysts’ expectations of $ 6.06 billion. During the same period in the previous year, the business posted $ 4.04 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 17.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Friday, May 20th were paid a $ 1.45 dividend. This represents a $ 5.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, May 19th. Cummins’s dividend payout ratio is currently 43.15%.
Several analysts have recently commented on the company. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Credit Suisse Group decreased their price target on Cummins from $ 304.00 to $ 270.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Cummins from $ 256.00 to $ 233.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. Citigroup reduced their price objective on Cummins from $ 260.00 to $ 220.00 in a research note on Tuesday, April 12th. Finally, UBS Group cut Cummins from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $ 260.00 to $ 214.00 in a research note on Friday, March 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $ 253.22.
In other Cummins news, Director Franklin R. Changdiaz sold 1,560 shares of Cummins stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 199.62, for a total transaction of $ 311,407.20. Following the completion of the transaction, the director now owns 4,842 shares of the company stock, valued at approximately $ 966,560.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Rumsey sold 420 shares of Cummins stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $ 208.41, for a total value of $ 87,532.20. Following the transaction, the chief operating officer now directly owns 2,052 shares of the company stock, valued at approximately $ 427,657.32. The disclosure for this sale can be found here. Insiders sold a total of 50,710 shares of company stock worth $ 10,468,698 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
About Cummins: (Get Rating)
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 New Power. 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 new parts and services, as well as remanufactured parts and engines.
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