Cetera Advisors LLC boosted its holdings in Cummins (NYSE:CMI) by 76.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,511 shares of the company’s stock after acquiring an additional 6,308 shares during the quarter. Cetera Advisors LLC’s holdings in Cummins were worth $2,351,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of CMI. Atria Investments LLC increased its position in Cummins by 14.8% in the 4th quarter. Atria Investments LLC now owns 3,501 shares of the company’s stock valued at $618,000 after acquiring an additional 452 shares during the period. Schwab Charles Investment Management Inc. increased its position in Cummins by 14.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 945,759 shares of the company’s stock valued at $167,059,000 after acquiring an additional 120,106 shares during the period. Steward Partners Investment Advisory LLC increased its position in Cummins by 4,465.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,648 shares of the company’s stock valued at $467,000 after acquiring an additional 2,590 shares during the period. Lau Associates LLC acquired a new stake in Cummins in the 4th quarter valued at approximately $1,537,000. Finally, Comprehensive Portfolio Management LLC acquired a new stake in Cummins in the 4th quarter valued at approximately $211,000. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Several brokerages have recently issued reports on CMI. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Barclays reiterated an “equal weight” rating and set a $191.00 price target (up from $180.00) on shares of Cummins in a research report on Wednesday, January 24th. Oppenheimer lifted their price target on Cummins to $207.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $182.00 price target on shares of Cummins in a research report on Monday, February 5th. Finally, Citigroup lifted their price target on Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $171.45.
CMI opened at $149.06 on Wednesday. The firm has a market cap of $24.88 billion, a PE ratio of 14.04, a P/E/G ratio of 0.97 and a beta of 1.24. 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 has a fifty-two week low of $140.60 and a fifty-two week high of $194.18.
Cummins (NYSE:CMI) last released its quarterly earnings data 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. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.18 billion. Cummins had a return on equity of 23.47% and a net margin of 4.33%. The company’s revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $2.36 EPS. equities research analysts forecast that Cummins will post 13.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, May 17th. Cummins’s dividend payout ratio is presently 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.
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