United Capital Financial Advisers LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,891 shares of the company’s stock after purchasing an additional 400 shares during the period. United Capital Financial Advisers LLC’s holdings in Cummins were worth $2,900,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Green Square Capital LLC grew its stake in shares of Cummins by 24.9% during the fourth quarter. Green Square Capital LLC now owns 47,852 shares of the company’s stock worth $8,452,000 after purchasing an additional 9,542 shares in the last quarter. Koch Industries Inc. grew its stake in shares of Cummins by 303.7% during the fourth quarter. Koch Industries Inc. now owns 6,645 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,999 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Cummins by 53.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 28,561 shares of the company’s stock worth $5,045,000 after purchasing an additional 9,939 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Cummins during the fourth quarter worth $210,124,000. Finally, Delek Group Ltd. acquired a new position in shares of Cummins during the fourth quarter worth $586,000. Hedge funds and other institutional investors own 81.09% of the company’s stock.
A number of equities analysts recently commented on the stock. Standpoint Research upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Monday. ValuEngine downgraded shares of Cummins from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 13th. Argus decreased their price objective on shares of Cummins to $175.00 and set a “buy” rating for the company in a research note on Friday, May 11th. They noted that the move was a valuation call. Morgan Stanley set a $165.00 price objective on shares of Cummins and gave the company a “hold” rating in a research note on Monday, May 7th. Finally, Citigroup decreased their price objective on shares of Cummins from $175.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $171.45.
Shares of CMI opened at $138.58 on Thursday. Cummins Inc. has a fifty-two week low of $137.66 and a fifty-two week high of $194.18. The stock has a market cap of $23.03 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.99.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 1st. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.39. Cummins had a net margin of 4.33% and a return on equity of 23.47%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. sell-side analysts anticipate that Cummins Inc. will post 13.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 18th were paid a dividend of $1.08 per share. The ex-dividend date was Thursday, May 17th. This represents a $4.32 annualized dividend and a dividend yield of 3.12%. Cummins’s dividend payout ratio (DPR) is 40.68%.
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.