Cummins Inc. (CMI) Position Increased by Wedbush Securities Inc.

Wedbush Securities Inc. increased its holdings in Cummins Inc. (NYSE:CMI) by 72.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,570 shares of the company’s stock after purchasing an additional 1,082 shares during the quarter. Wedbush Securities Inc.’s holdings in Cummins were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CMI. Hall Laurie J Trustee lifted its holdings in Cummins by 841.7% in the fourth 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 during the period. Northwest Investment Counselors LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $132,000. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cummins during the third quarter valued at approximately $168,000. Krilogy Financial LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $168,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $201,000. 82.69% of the stock is currently owned by institutional investors.

Shares of Cummins Inc. (CMI) opened at $165.74 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. Cummins Inc. has a 1 year low of $143.83 and a 1 year high of $194.18. The company has a market cap of $27,639.29, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The firm’s revenue was up 21.6% on a year-over-year basis. equities analysts expect that Cummins Inc. will post 12.51 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 72.61%.

CMI has been the subject of several recent research reports. Seaport Global Securities reiterated a “neutral” rating on shares of Cummins in a report on Tuesday, January 16th. Stifel Nicolaus reiterated a “hold” rating and set a $190.00 target price (up from $186.00) on shares of Cummins in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Citigroup lifted their target price on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, BMO Capital Markets lifted their target price on shares of Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $188.18.

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Cummins 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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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