Acropolis Investment Management LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,499 shares of the company’s stock after acquiring an additional 102 shares during the quarter. Acropolis Investment Management LLC’s holdings in Cummins were worth $942,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss National Bank increased its stake in shares of Cummins by 1.1% in the first quarter. Swiss National Bank now owns 509,719 shares of the company’s stock worth $80,469,000 after acquiring an additional 5,300 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in Cummins during the first quarter worth $87,000. KG&L Capital Management LLC increased its position in Cummins by 1.5% during the first quarter. KG&L Capital Management LLC now owns 7,186 shares of the company’s stock worth $1,135,000 after buying an additional 104 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Cummins during the first quarter worth $728,000. Finally, Fundamentun LLC acquired a new position in Cummins during the first quarter worth $370,000. 81.06% of the stock is currently owned by institutional investors and hedge funds.
CMI stock traded up $2.64 during mid-day trading on Tuesday, reaching $173.37. 1,077,383 shares of the stock traded hands, compared to its average volume of 1,247,374. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.57 and a quick ratio of 0.96. Cummins Inc. has a 52 week low of $124.40 and a 52 week high of $175.18. The stock has a 50-day simple moving average of $167.73. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.33 and a beta of 1.17.
Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $4.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.69. Cummins had a net margin of 10.24% and a return on equity of 30.72%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 16.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st will be paid a $1.311 dividend. This represents a $5.24 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, August 20th. This is a boost from Cummins’s previous quarterly dividend of $1.14. Cummins’s dividend payout ratio (DPR) is presently 34.47%.
Several equities analysts have commented on CMI shares. Standpoint Research started coverage on shares of Expedia Group in a research report on Tuesday, July 16th. They set a “buy” rating and a $180.00 target price on the stock. Credit Suisse Group reissued an “outperform” rating and set a GBX 2,012 ($26.29) target price on shares of Aston Martin Lagonda Global in a research report on Wednesday, May 1st. Evercore ISI reissued an “in-line” rating and set a $31.00 target price (down from $40.00) on shares of Terex in a research report on Friday, May 31st. Buckingham Research increased their target price on shares of PulteGroup from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Citigroup started coverage on shares of Oxford Industries in a research report on Tuesday, April 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $165.73.
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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