Cummins Inc. (NYSE:CMI) Shares Purchased by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC grew its position in shares of Cummins Inc. (NYSE:CMI) by 18.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,570 shares of the company’s stock after purchasing an additional 1,931 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Cummins were worth $4,382,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. State Street Corp increased its position in shares of Cummins by 2.1% during 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 increased its position in shares of Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company’s stock valued at $1,071,059,000 after purchasing an additional 66,887 shares during the period. FMR LLC increased its position in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares during the period. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 120,579 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cummins by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 884,402 shares of the company’s stock valued at $308,303,000 after purchasing an additional 17,687 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CMI shares. Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Performance

Shares of Cummins stock opened at $312.65 on Friday. The stock has a market cap of $42.98 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The business has a fifty day simple moving average of $360.03 and a 200-day simple moving average of $346.51. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. Cummins’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.14 earnings per share. On average, sell-side analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.33%. Cummins’s payout ratio is 25.84%.

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.