Cummins Inc. (CMI) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Cummins Inc. (NYSE:CMI) by 11.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 12,846 shares of the company’s stock after buying an additional 1,333 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cummins were worth $2,159,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Carroll Financial Associates Inc. raised its stake 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 acquiring an additional 83 shares during the period. Northwest Investment Counselors LLC bought a new stake in Cummins in the 3rd quarter valued at about $132,000. Captrust Financial Advisors bought a new stake in Cummins in the 2nd quarter valued at about $137,000. Acrospire Investment Management LLC bought a new stake in Cummins in the 2nd quarter valued at about $146,000. Finally, First Interstate Bank raised its stake 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 acquiring an additional 25 shares during the period. 82.51% of the stock is currently owned by institutional investors.
Shares of Cummins Inc. (NYSE CMI) opened at $165.01 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $27,803.71, a PE ratio of 17.01, a PEG ratio of 1.34 and a beta of 1.14. Cummins Inc. has a 52-week low of $134.06 and a 52-week high of $181.79.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. Cummins’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. sell-side analysts predict that Cummins Inc. will post 10.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s dividend payout ratio (DPR) is 43.86%.
A number of equities research analysts recently issued reports on CMI shares. Buckingham Research assumed coverage on Cummins in a research note on Tuesday, September 5th. They issued a “buy” rating and a $180.00 price objective on the stock. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research report on Thursday, September 21st. Goldman Sachs Group cut Cummins from a “conviction-buy” rating to a “buy” rating and set a $192.00 price target on the stock. in a research report on Monday, August 7th. Finally, Argus upped their price target on Cummins from $172.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price 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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