Aperio Group LLC Boosts Position in Cummins (CMI)

Aperio Group LLC increased its position in shares of Cummins (NYSE:CMI) by 1.1% during the 1st quarter, HoldingsChannel reports. The fund owned 133,603 shares of the company’s stock after acquiring an additional 1,489 shares during the period. Aperio Group LLC’s holdings in Cummins were worth $21,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Cummins by 104.5% in the 4th quarter. Victory Capital Management Inc. now owns 149,873 shares of the company’s stock valued at $26,474,000 after purchasing an additional 76,584 shares in the last quarter. Green Square Capital LLC raised its position in Cummins by 24.9% in the 4th quarter. Green Square Capital LLC now owns 47,852 shares of the company’s stock valued at $8,452,000 after purchasing an additional 9,542 shares in the last quarter. Creative Planning raised its position in Cummins by 2.3% in the 4th quarter. Creative Planning now owns 31,539 shares of the company’s stock valued at $5,571,000 after purchasing an additional 699 shares in the last quarter. ARP Americas LP raised its position in Cummins by 438.2% in the 4th quarter. ARP Americas LP now owns 20,997 shares of the company’s stock valued at $3,709,000 after purchasing an additional 17,096 shares in the last quarter. Finally, Koch Industries Inc. raised its position in Cummins by 303.7% in the 4th quarter. Koch Industries Inc. now owns 6,645 shares of the company’s stock valued at $1,174,000 after purchasing an additional 4,999 shares in the last quarter. 84.18% of the stock is currently owned by hedge funds and other institutional investors.

CMI has been the topic of a number of analyst reports. Zacks Investment Research raised Cummins from a “hold” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research report on Friday, April 6th. Deutsche Bank raised Cummins from a “sell” rating to a “hold” rating and set a $147.00 price target on the stock in a research report on Monday, March 19th. JPMorgan Chase reduced their price target on Cummins from $176.00 to $164.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th. Bank of America raised Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, January 19th. Finally, Robert W. Baird increased their price target on Cummins from $157.00 to $159.00 and gave the company an “underperform” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $171.45.

Shares of Cummins opened at $146.36 on Friday, according to MarketBeat Ratings. The company has a current ratio of 1.58, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. Cummins has a fifty-two week low of $146.71 and a fifty-two week high of $147.90. The stock has a market cap of $24.13 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 1st. The company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.39. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.18 billion. Cummins had a return on equity of 23.47% and a net margin of 4.33%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.36 EPS. equities analysts forecast that Cummins will post 13.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $4.32 dividend on an annualized basis and a yield of 2.95%. Cummins’s dividend payout ratio is presently 40.68%.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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