Partners Capital Investment Group LLP Takes Position in Cummins Inc. $CMI

Partners Capital Investment Group LLP purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,550 shares of the company’s stock, valued at approximately $1,105,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMI. Activest Wealth Management raised its stake in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Cedar Mountain Advisors LLC boosted its stake in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 45 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of Cummins in the second quarter valued at $26,000. Wellington Shields Capital Management LLC acquired a new stake in Cummins during the 4th quarter valued at $27,000. Finally, Key Financial Inc grew its holdings in Cummins by 62.5% during the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 2.7%

NYSE:CMI opened at $571.58 on Tuesday. The company has a market cap of $78.68 billion, a PE ratio of 29.21, a P/E/G ratio of 1.40 and a beta of 1.24. The business’s 50 day moving average is $658.70 and its two-hundred day moving average is $628.32. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 52 week low of $389.52 and a 52 week high of $737.76.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. During the same quarter in the previous year, the firm earned $6.43 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 30.06 EPS for the current year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $2.20 dividend. This is a boost from Cummins’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Cummins’s dividend payout ratio is 44.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CMI shares. Morgan Stanley boosted their price objective on shares of Cummins from $752.00 to $761.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. UBS Group lowered their target price on Cummins from $850.00 to $835.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Robert W. Baird set a $700.00 target price on Cummins in a research report on Wednesday, May 6th. Weiss Ratings upgraded Cummins from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 17th. Finally, Raymond James Financial boosted their price target on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $745.64.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.