Cetera Advisors LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 34.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,999 shares of the company’s stock after purchasing an additional 1,276 shares during the period. Cetera Advisors LLC’s holdings in Cummins were worth $844,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CMI. Vanguard Group Inc. grew its position in Cummins by 2.6% during the second quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after acquiring an additional 298,352 shares during the period. BlackRock Inc. grew its position in Cummins by 4.1% during the second quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock valued at $1,724,930,000 after acquiring an additional 422,135 shares during the period. American Century Companies Inc. grew its position in Cummins by 2.9% during the second quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock valued at $439,732,000 after acquiring an additional 77,116 shares during the period. Boston Partners purchased a new stake in Cummins during the third quarter valued at about $416,229,000. Finally, First Eagle Investment Management LLC grew its position in Cummins by 2.0% during the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after acquiring an additional 39,674 shares during the period. 82.50% of the stock is owned by institutional investors and hedge funds.
Shares of Cummins Inc. (NYSE CMI) opened at $168.55 on Friday. Cummins Inc. has a 1 year low of $134.06 and a 1 year 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 $28,144.77, a PE ratio of 17.22, a PEG ratio of 1.40 and a beta of 1.13.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. 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 prior year, the business earned $2.02 earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. research analysts expect that Cummins Inc. will post 10.19 EPS for the current fiscal year.
The firm 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. This represents a $4.32 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Thursday, November 16th. Cummins’s dividend payout ratio (DPR) is 43.86%.
CMI has been the subject of a number of research reports. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BMO Capital Markets boosted their price target on Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. Buckingham Research initiated coverage on Cummins in a research report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price target for the company. Piper Jaffray Companies set a $170.00 price target on Cummins and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, Longbow Research downgraded Cummins from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $178.69.
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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.
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