Flinton Capital Management LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 22.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 146,472 shares of the company’s stock after acquiring an additional 27,336 shares during the quarter. Cummins accounts for 0.9% of Flinton Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Flinton Capital Management LLC’s holdings in Cummins were worth $25,873,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Hall Laurie J Trustee lifted its holdings in Cummins by 841.7% during the 4th quarter. Hall Laurie J Trustee now owns 2,260 shares of the company’s stock worth $101,000 after buying an additional 2,020 shares in the last quarter. Risk Paradigm Group LLC acquired a new stake in Cummins during the 4th quarter worth approximately $127,000. Bank of Nova Scotia Trust Co. acquired a new stake in Cummins during the 3rd quarter worth approximately $168,000. Krilogy Financial LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $168,000. Finally, EagleClaw Capital Managment LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.
Shares of Cummins Inc. (NYSE:CMI) opened at $160.16 on Tuesday. Cummins Inc. has a 52-week low of $143.83 and a 52-week high of $194.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. The company has a market cap of $26,540.00, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the firm posted $2.25 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. equities research analysts anticipate that Cummins Inc. will post 12.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 40.53%.
CMI has been the topic of a number of research reports. Bank of America upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, January 19th. ValuEngine upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a report on Friday, February 9th. Wells Fargo & Co reiterated a “buy” rating and set a $195.00 target price (down from $210.00) on shares of Cummins in a report on Thursday, February 22nd. Finally, TheStreet lowered shares of Cummins from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. Cummins has an average rating of “Hold” and an average price target of $187.61.
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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