Northern Trust Corp grew its holdings in Cummins (NYSE:CMI) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,274,023 shares of the company’s stock after purchasing an additional 52,223 shares during the period. Northern Trust Corp owned about 1.38% of Cummins worth $368,596,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Guyasuta Investment Advisors Inc. increased its holdings in shares of Cummins by 24.8% in the 1st quarter. Guyasuta Investment Advisors Inc. now owns 2,776 shares of the company’s stock worth $450,000 after purchasing an additional 551 shares in the last quarter. Pegasus Partners Ltd. increased its holdings in shares of Cummins by 30.1% in the 1st quarter. Pegasus Partners Ltd. now owns 9,449 shares of the company’s stock worth $1,532,000 after purchasing an additional 2,185 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Cummins by 26.3% in the 1st quarter. Private Advisor Group LLC now owns 5,652 shares of the company’s stock worth $915,000 after buying an additional 1,176 shares during the last quarter. Silvant Capital Management LLC purchased a new position in shares of Cummins in the 1st quarter worth $5,767,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Cummins by 21.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 35,520 shares of the company’s stock worth $5,757,000 after buying an additional 6,301 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
CMI has been the topic of a number of research reports. Credit Suisse Group dropped their price target on Cummins from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. UBS downgraded Cummins from a “neutral” rating to a “sell” rating and set a $136.00 price target on the stock. in a research note on Tuesday, May 1st. Citigroup raised their price target on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, Morgan Stanley initiated coverage on Cummins in a research note on Friday, March 2nd. They issued an “equal weight” rating and a $173.00 price target on the stock. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. Cummins has an average rating of “Hold” and a consensus target price of $171.45.
NYSE CMI opened at $149.06 on Thursday. The firm has a market cap of $24.56 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.00 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. 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 earnings results on Tuesday, May 1st. The company reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $0.39. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.18 billion. Cummins had a return on equity of 23.47% and a net margin of 4.33%. Cummins’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.36 earnings per share. equities research analysts anticipate that Cummins will post 13.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $4.32 annualized dividend and a yield of 2.90%. Cummins’s dividend payout ratio (DPR) is presently 40.68%.
Cummins Company Profile
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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