Jones Financial Companies Lllp purchased a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,195 shares of the company’s stock, valued at approximately $212,000.
Several other large investors have also modified their holdings of CMI. Raymond James Financial Services Advisors Inc. grew its holdings in Cummins by 12.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 87,585 shares of the company’s stock valued at $14,718,000 after purchasing an additional 9,429 shares during the period. Victory Capital Management Inc. grew its holdings in Cummins by 13.1% during the third quarter. Victory Capital Management Inc. now owns 73,289 shares of the company’s stock valued at $12,315,000 after purchasing an additional 8,481 shares during the period. Alps Advisors Inc. grew its holdings in Cummins by 23.2% during the third quarter. Alps Advisors Inc. now owns 2,650 shares of the company’s stock valued at $445,000 after purchasing an additional 499 shares during the period. FDx Advisors Inc. acquired a new position in Cummins during the third quarter valued at approximately $685,000. Finally, Sei Investments Co. grew its holdings in Cummins by 37.2% during the third quarter. Sei Investments Co. now owns 100,877 shares of the company’s stock valued at $16,950,000 after purchasing an additional 27,332 shares during the period. Institutional investors own 84.20% of the company’s stock.
Cummins Inc. (CMI) opened at $160.35 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. Cummins Inc. has a one year low of $143.83 and a one year high of $194.18. The firm has a market cap of $26,519.27, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. equities research analysts expect that Cummins Inc. will post 12.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 72.61%.
CMI has been the subject of a number of analyst reports. Seaport Global Securities restated a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Citigroup boosted their price objective on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Morgan Stanley initiated coverage on shares of Cummins in a report on Friday, March 2nd. They set an “equal weight” rating and a $173.00 price objective for the company. Finally, ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $187.61.
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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