Cambridge Investment Research Advisors Inc. Has $5.15 Million Holdings in Cummins Inc. (CMI)
Cambridge Investment Research Advisors Inc. raised its stake in Cummins Inc. (NYSE:CMI) by 19.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,643 shares of the company’s stock after purchasing an additional 4,982 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cummins were worth $5,149,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Johanson Financial Advisors Inc. grew its stake in Cummins by 0.4% in the second quarter. Johanson Financial Advisors Inc. now owns 1,843 shares of the company’s stock valued at $303,000 after purchasing an additional 7 shares in the last quarter. Good Life Advisors LLC boosted its stake in shares of Cummins by 0.6% during the 2nd quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock worth $243,000 after acquiring an additional 9 shares during the period. Northwest Quadrant Wealth Management LLC boosted its stake in shares of Cummins by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock worth $360,000 after acquiring an additional 11 shares during the period. Bessemer Group Inc. boosted its stake in shares of Cummins by 1.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock worth $187,000 after acquiring an additional 12 shares during the period. Finally, Texas Yale Capital Corp. boosted its stake in shares of Cummins by 1.3% during the 2nd quarter. Texas Yale Capital Corp. now owns 2,016 shares of the company’s stock worth $327,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 83.85% of the company’s stock.
Several research analysts have recently commented on CMI shares. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Thursday, July 20th. ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Stifel Nicolaus lifted their price target on Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Deutsche Bank AG dropped their price target on Cummins from $155.00 to $147.00 and set a “sell” rating for the company in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $165.00 price target (up from $160.00) on shares of Cummins in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $173.96.
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Cummins Inc. (NYSE CMI) traded down $2.28 during trading on Thursday, hitting $166.84. The stock had a trading volume of 1,808,800 shares, compared to its average volume of 1,284,923. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. Cummins Inc. has a 12 month low of $134.06 and a 12 month high of $181.79. The firm has a market cap of $28,068.42, a PE ratio of 17.17, a P/E/G ratio of 1.38 and a beta of 1.16.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the firm earned $2.02 EPS. Cummins’s revenue was up 26.2% on a year-over-year basis. research analysts anticipate that Cummins Inc. will post 10.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.59%. Cummins’s dividend payout ratio (DPR) is currently 43.86%.
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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