First National Trust Co. lessened its position in Cummins Inc. (NYSE:CMI) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,578 shares of the company’s stock after selling 832 shares during the quarter. First National Trust Co.’s holdings in Cummins were worth $1,273,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CMI. State Board of Administration of Florida Retirement System lifted its position in Cummins by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after buying an additional 3,700 shares in the last quarter. AJO LP lifted its position in Cummins by 11,096.3% in the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after buying an additional 1,139,586 shares in the last quarter. Kirr Marbach & Co. LLC IN purchased a new stake in Cummins in the 3rd quarter worth approximately $255,000. AGF Investments America Inc. lifted its position in Cummins by 41.5% in the 2nd quarter. AGF Investments America Inc. now owns 38,653 shares of the company’s stock worth $6,270,000 after buying an additional 11,338 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Cummins by 8.6% in the 1st quarter. Bank of America Corp DE now owns 780,787 shares of the company’s stock worth $118,055,000 after buying an additional 62,046 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.
Cummins Inc. (NYSE CMI) traded down $0.10 during midday trading on Tuesday, reaching $169.10. 443,985 shares of the company’s stock traded hands, compared to its average volume of 1,281,864. 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 cap of $28,040.21, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. Cummins Inc. has a 52 week low of $133.16 and a 52 week high of $181.79.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the business posted $2.02 EPS. sell-side analysts forecast that Cummins Inc. will post 10.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $1.08 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 2.55%. Cummins’s dividend payout ratio is 43.86%.
A number of research firms have recently weighed in on CMI. Stifel Nicolaus raised their price target on shares of Cummins from $160.00 to $168.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Deutsche Bank AG cut their price target on shares of Cummins from $155.00 to $147.00 and set a “sell” rating on the stock in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $177.00 price target on the stock in a report on Friday, August 4th. Robert W. Baird restated a “sell” rating and set a $155.00 price target on shares of Cummins in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $159.00 price target on shares of Cummins in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Cummins presently has a consensus rating of “Hold” and a consensus target price of $173.96.
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.
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