Systematic Financial Management LP Trims Position in Cummins Inc. (NYSE:CMI)

Systematic Financial Management LP lessened its position in shares of Cummins Inc. (NYSE:CMI) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,395 shares of the company’s stock after selling 15,359 shares during the quarter. Systematic Financial Management LP owned approximately 0.06% of Cummins worth $16,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sowell Financial Services LLC lifted its stake in shares of Cummins by 16.6% in the first quarter. Sowell Financial Services LLC now owns 1,443 shares of the company’s stock worth $224,000 after buying an additional 205 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Cummins by 27.1% in the first quarter. Nuveen Asset Management LLC now owns 166,425 shares of the company’s stock worth $25,163,000 after buying an additional 35,458 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Cummins by 116.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 77,168 shares of the company’s stock worth $11,667,000 after buying an additional 41,462 shares in the last quarter. Beacon Financial Group lifted its stake in shares of Cummins by 59.9% in the second quarter. Beacon Financial Group now owns 6,093 shares of the company’s stock worth $976,000 after buying an additional 2,283 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Cummins in the second quarter worth about $633,000. 82.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cummins Inc. (NYSE CMI) traded up $3.92 during mid-day trading on Thursday, hitting $169.30. 1,883,811 shares of the company were exchanged, compared to its average volume of 1,314,746. Cummins Inc. has a 52-week low of $134.06 and a 52-week high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $27,358.08, a PE ratio of 16.74, a P/E/G ratio of 1.32 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. equities analysts forecast that Cummins Inc. will post 10.19 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.55%. Cummins’s dividend payout ratio is currently 43.86%.

A number of equities analysts have commented on the stock. Oppenheimer assumed coverage on shares of Cummins in a research note on Thursday. They set an “outperform” rating and a $192.00 target price on the stock. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research note on Thursday, September 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $190.00 target price (up from $186.00) on shares of Cummins in a research note on Wednesday, November 1st. Robert W. Baird reiterated a “sell” rating and set a $155.00 price target on shares of Cummins in a research report on Wednesday, November 1st. Finally, Goldman Sachs Group cut shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Cummins currently has an average rating of “Hold” and a consensus target price of $176.41.

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Cummins Company Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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