Aperio Group LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,974 shares of the company’s stock after purchasing an additional 4,341 shares during the quarter. Aperio Group LLC owned approximately 0.08% of Cummins worth $21,840,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CMI. BlackRock Inc. boosted its position in Cummins by 2,874.8% during the first quarter. BlackRock Inc. now owns 10,211,140 shares of the company’s stock worth $1,543,924,000 after purchasing an additional 9,867,890 shares in the last quarter. AJO LP raised its holdings 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 acquiring an additional 1,139,586 shares during the last quarter. Franklin Resources Inc. raised its holdings 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 acquiring an additional 1,121,833 shares during the last quarter. Ameriprise Financial Inc. raised its holdings 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 acquiring an additional 890,404 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Cummins by 784.9% in the second quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock worth $127,307,000 after acquiring an additional 696,090 shares during the last quarter. Institutional investors own 80.80% of the company’s stock.
In other news, Director Franklin R. Changdiaz sold 1,633 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the sale, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.62% of the company’s stock.
CMI has been the subject of a number of analyst reports. Deutsche Bank AG boosted their price target on Cummins from $139.00 to $142.00 and gave the stock a “sell” rating in a report on Tuesday, July 4th. Seaport Global Securities reissued a “neutral” rating on shares of Cummins in a report on Tuesday, July 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $166.00 price target on shares of Cummins in a report on Wednesday, July 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $161.00 price target on shares of Cummins in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $164.91.
Cummins Inc. (CMI) opened at 179.50 on Friday. The company has a 50-day moving average price of $170.89 and a 200 day moving average price of $161.12. Cummins Inc. has a 1-year low of $121.22 and a 1-year high of $180.32. The firm has a market capitalization of $29.98 billion, a price-to-earnings ratio of 20.29 and a beta of 1.13.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by ($0.05). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.80 billion. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. Equities analysts anticipate that Cummins Inc. will post $7.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.41%. Cummins’s dividend payout ratio (DPR) is presently 48.76%.
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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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