Valeo Financial Advisors LLC purchased a new position in Cummins Inc. (NYSE:CMI) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,112 shares of the company’s stock, valued at approximately $1,195,000.
Several other institutional investors have also bought and sold shares of CMI. Boston Partners bought a new position in shares of Cummins in the third quarter worth about $416,229,000. AJO LP increased its stake in shares of Cummins by 11,096.3% in the second quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after purchasing an additional 1,139,586 shares during the period. Franklin Resources Inc. increased its stake in shares of Cummins by 434.1% in the second quarter. Franklin Resources Inc. now owns 1,380,233 shares of the company’s stock worth $223,902,000 after purchasing an additional 1,121,833 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Cummins by 82.5% in the second quarter. Ameriprise Financial Inc. now owns 1,969,135 shares of the company’s stock worth $319,426,000 after purchasing an additional 890,404 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Cummins by 784.9% during the second quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock valued at $127,307,000 after acquiring an additional 696,090 shares during the period. Institutional investors and hedge funds own 82.50% of the company’s stock.
Shares of Cummins Inc. (NYSE:CMI) opened at $170.88 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. The firm has a market capitalization of $28,360.53, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. Cummins Inc. has a 1-year low of $134.06 and a 1-year high of $181.79.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 earnings per share. equities research analysts predict that Cummins Inc. will post 10.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Thursday, November 16th. Cummins’s payout ratio is 43.86%.
Several brokerages recently issued reports on CMI. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Royal Bank Of Canada boosted their price target on Cummins from $169.00 to $173.00 and gave the company a “sector perform” rating in a research note on Thursday, November 2nd. Robert W. Baird restated a “sell” rating and set a $153.00 price target on shares of Cummins in a research note on Thursday, October 12th. Jefferies Group restated a “hold” rating and set a $165.00 price target on shares of Cummins in a research note on Thursday, September 7th. Finally, Piper Jaffray Companies set a $170.00 price target on Cummins and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $176.41.
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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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