O Brien Greene & Co. Inc Increases Stock Position in Cummins Inc. (NYSE:CMI)

O Brien Greene & Co. Inc raised its position in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,476 shares of the company’s stock after buying an additional 100 shares during the quarter. O Brien Greene & Co. Inc’s holdings in Cummins were worth $1,419,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of Cummins during the first quarter valued at $25,000. Ellevest Inc. bought a new stake in Cummins in the 4th quarter worth about $28,000. Montag A & Associates Inc. bought a new stake in Cummins in the 4th quarter worth about $29,000. Veritas Investment Partners UK Ltd. bought a new stake in Cummins in the 4th quarter worth about $31,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in Cummins in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.20% of the company’s stock.

Several equities research analysts recently commented on CMI shares. Citigroup lifted their price objective on Cummins from $265.00 to $315.00 in a report on Tuesday, March 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Cummins from $265.00 to $315.00 in a research note on Tuesday, March 16th. Robert W. Baird restated a “hold” rating on shares of Cummins in a research note on Thursday, May 6th. Argus boosted their price target on Cummins from $246.00 to $281.00 and gave the company a “buy” rating in a research note on Thursday, February 11th. Finally, Credit Suisse Group boosted their price target on Cummins from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $261.70.

Shares of CMI traded down $2.06 during mid-day trading on Friday, hitting $250.18. 129,806 shares of the stock were exchanged, compared to its average volume of 1,060,843. The stock has a market cap of $36.66 billion, a P/E ratio of 19.94, a PEG ratio of 1.45 and a beta of 1.08. Cummins Inc. has a 52-week low of $160.61 and a 52-week high of $277.09. The stock has a 50-day simple moving average of $259.68. The company has a current ratio of 1.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.40.

Cummins (NYSE:CMI) last released its earnings results on Monday, May 3rd. The company reported $4.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $0.57. The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.38 billion. Cummins had a return on equity of 22.10% and a net margin of 9.00%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.18 EPS. On average, analysts predict that Cummins Inc. will post 15.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Shareholders of record on Friday, May 21st were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, May 20th. Cummins’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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