Commerzbank Aktiengesellschaft FI Takes Position in Cummins Inc. (CMI)
Commerzbank Aktiengesellschaft FI acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,310 shares of the company’s stock, valued at approximately $220,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CMI. Bessemer Group Inc. lifted its holdings in shares of Cummins by 1.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock worth $187,000 after acquiring an additional 12 shares during the last quarter. British Airways Pensions Investment Management Ltd purchased a new position in Cummins in the 2nd quarter worth $29,410,000. Advisor Partners LLC raised its position in Cummins by 5.1% in the 2nd quarter. Advisor Partners LLC now owns 3,381 shares of the company’s stock worth $548,000 after purchasing an additional 164 shares during the period. Pineno Levin & Ford Asset Management Inc. purchased a new position in Cummins in the 2nd quarter worth $212,000. Finally, Seaward Management Limited Partnership purchased a new position in Cummins in the 2nd quarter worth $243,000. 82.50% of the stock is owned by institutional investors.
Cummins Inc. (CMI) opened at $169.22 on Wednesday. Cummins Inc. has a 52-week low of $134.06 and a 52-week high of $181.79. The stock has a market cap of $28,342.27, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. equities research analysts expect that Cummins Inc. will post 10.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Thursday, November 16th. Cummins’s dividend payout ratio is currently 43.86%.
A number of equities analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Cummins in a research report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 target price on the stock. Barclays assumed coverage on shares of Cummins in a research report on Tuesday. They issued an “equal weight” rating and a $180.00 target price on the stock. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research report on Thursday, September 21st. Stifel Nicolaus reiterated a “hold” rating and issued a $190.00 target price (up previously from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Finally, Robert W. Baird reiterated a “sell” rating and issued a $155.00 target price on shares of Cummins in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $178.69.
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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