O Brien Greene & Co. Inc grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the first quarter, Holdings Channel reports. The institutional investor owned 5,476 shares of the company’s stock after purchasing an additional 100 shares during the period. O Brien Greene & Co. Inc’s holdings in Cummins were worth $1,419,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CMI. Delta Asset Management LLC TN increased its stake in shares of Cummins by 13.0% during the first quarter. Delta Asset Management LLC TN now owns 348 shares of the company’s stock valued at $90,000 after acquiring an additional 40 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Cummins by 1.3% during the first quarter. Stratos Wealth Partners LTD. now owns 3,088 shares of the company’s stock valued at $800,000 after acquiring an additional 41 shares during the period. Aviance Capital Partners LLC increased its stake in shares of Cummins by 3.6% during the first quarter. Aviance Capital Partners LLC now owns 1,179 shares of the company’s stock valued at $305,000 after acquiring an additional 41 shares during the period. Savant Capital LLC increased its stake in shares of Cummins by 1.6% during the first quarter. Savant Capital LLC now owns 2,801 shares of the company’s stock valued at $726,000 after acquiring an additional 44 shares during the period. Finally, Equitable Holdings Inc. increased its stake in shares of Cummins by 3.7% during the fourth quarter. Equitable Holdings Inc. now owns 1,265 shares of the company’s stock valued at $287,000 after acquiring an additional 45 shares during the period. 80.20% of the stock is owned by institutional investors.
A number of research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Cummins from $260.00 to $274.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. Bank of America upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Monday, May 17th. BMO Capital Markets lifted their price target on shares of Cummins from $235.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, May 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Cummins from $265.00 to $315.00 in a research report on Tuesday, March 16th. Finally, Jefferies Financial Group upgraded shares of Cummins from a “hold” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $325.00 in a research report on Thursday, March 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Cummins has an average rating of “Hold” and an average price target of $261.70.
Cummins (NYSE:CMI) last released its quarterly earnings data on Monday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.57. Cummins had a net margin of 9.00% and a return on equity of 22.10%. The business had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the business earned $3.18 EPS. Cummins’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts predict that Cummins Inc. will post 15.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 3rd. Shareholders of record on Friday, May 21st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, May 20th. Cummins’s dividend payout ratio is 44.33%.
Cummins Company 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 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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