Achmea Investment Management B.V. raised its holdings in Cummins Inc. (NYSE:CMI) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,857 shares of the company’s stock after acquiring an additional 1,862 shares during the period. Achmea Investment Management B.V.’s holdings in Cummins were worth $10,558,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Carroll Financial Associates Inc. increased its holdings in Cummins by 13.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock valued at $113,000 after purchasing an additional 83 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Cummins in the 3rd quarter valued at approximately $132,000. Captrust Financial Advisors purchased a new position in Cummins in the 2nd quarter valued at approximately $137,000. Acrospire Investment Management LLC purchased a new position in Cummins in the 2nd quarter valued at approximately $146,000. Finally, First Interstate Bank boosted its position in Cummins by 2.7% in the 2nd quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after buying an additional 25 shares during the period. Institutional investors own 82.50% of the company’s stock.
Shares of Cummins Inc. (NYSE:CMI) traded down $0.12 on Wednesday, hitting $164.84. 1,147,300 shares of the company traded hands, compared to its average volume of 1,312,233. 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 stock has a market capitalization of $27,378.00, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. Cummins Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $181.79.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. equities research analysts expect that Cummins Inc. will post 10.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, November 16th. Cummins’s dividend payout ratio (DPR) is 43.86%.
Several equities research analysts have recently issued reports on CMI shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $168.00 price objective (up from $160.00) on shares of Cummins in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Buckingham Research assumed coverage on shares of Cummins in a research report on Tuesday, September 5th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Jefferies Group reissued a “hold” rating and issued a $165.00 price target on shares of Cummins in a research report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Cummins has an average rating of “Hold” and an average price target of $175.49.
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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