Cummins Inc. (NYSE:CMI) Stock Holdings Lifted by Advisor OS LLC

Advisor OS LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 68.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,470 shares of the company’s stock after acquiring an additional 1,008 shares during the quarter. Advisor OS LLC’s holdings in Cummins were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CMI. State Street Corp boosted its position in shares of Cummins by 2.1% in the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after purchasing an additional 126,703 shares during the period. Fisher Asset Management LLC raised its position in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after buying an additional 165,398 shares during the period. Pathway Financial Advisers LLC lifted its stake in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. FMR LLC boosted its position in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after acquiring an additional 9,245 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Cummins by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 981,766 shares of the company’s stock valued at $342,244,000 after acquiring an additional 120,579 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 1.7 %

Cummins stock opened at $367.04 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The business’s 50-day simple moving average is $361.70 and its 200-day simple moving average is $343.49. The firm has a market capitalization of $50.46 billion, a PE ratio of 13.03, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a 52 week low of $260.88 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.14 EPS. Equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMI shares. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI increased their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.