Brown Advisory Inc. Grows Stake in Cummins Inc. (CMI)

Brown Advisory Inc. raised its position in Cummins Inc. (NYSE:CMI) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,761 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Brown Advisory Inc.’s holdings in Cummins were worth $1,472,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Cummins by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after buying an additional 298,352 shares during the period. BlackRock Inc. raised its holdings in shares of Cummins by 4.1% during the 2nd quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock valued at $1,724,930,000 after buying an additional 422,135 shares during the period. American Century Companies Inc. raised its holdings in shares of Cummins by 2.9% during the 2nd quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock valued at $439,732,000 after buying an additional 77,116 shares during the period. Boston Partners purchased a new stake in shares of Cummins during the 3rd quarter valued at about $416,229,000. Finally, First Eagle Investment Management LLC raised its holdings in shares of Cummins by 2.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after buying an additional 39,674 shares during the period. Institutional investors own 82.50% of the company’s stock.

Several equities research analysts recently commented on CMI shares. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Buckingham Research started coverage on Cummins in a report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective on the stock. Jefferies Group restated a “hold” rating and set a $165.00 price objective on shares of Cummins in a report on Thursday, September 7th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $159.00 price objective on shares of Cummins in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Cummins has a consensus rating of “Hold” and a consensus target price of $176.41.

Shares of Cummins Inc. (NYSE:CMI) opened at $169.30 on Friday. The stock has a market capitalization of $27,447.71, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.13. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins Inc. has a twelve month low of $134.06 and a twelve month high of $181.79.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business’s revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. equities analysts anticipate that Cummins Inc. will post 10.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.55%. Cummins’s payout ratio is 43.86%.

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About Cummins

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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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