State of Wisconsin Investment Board Purchases 25,773 Shares of Cummins Inc. (NYSE:CMI)

State of Wisconsin Investment Board lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,475 shares of the company’s stock after purchasing an additional 25,773 shares during the period. State of Wisconsin Investment Board owned 0.15% of Cummins worth $37,806,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CMI. Stratos Wealth Partners LTD. grew its holdings in Cummins by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock valued at $680,000 after buying an additional 75 shares in the last quarter. Unison Advisors LLC grew its holdings in shares of Cummins by 0.7% during the 1st quarter. Unison Advisors LLC now owns 10,645 shares of the company’s stock worth $1,681,000 after purchasing an additional 75 shares in the last quarter. Whitener Capital Management Inc. grew its holdings in shares of Cummins by 2.8% during the 1st quarter. Whitener Capital Management Inc. now owns 2,800 shares of the company’s stock worth $442,000 after purchasing an additional 75 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Cummins by 1.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 4,653 shares of the company’s stock worth $734,000 after purchasing an additional 75 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Cummins by 3.1% during the 1st quarter. Trust Co. of Vermont now owns 2,918 shares of the company’s stock worth $461,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 81.14% of the company’s stock.

Cummins stock opened at $171.34 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $26.50 billion, a P/E ratio of 12.95, a PEG ratio of 1.29 and a beta of 1.11. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $171.84. The company has a 50-day moving average price of $162.36.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, April 30th. The company reported $4.20 EPS for the quarter, beating the consensus estimate of $3.51 by $0.69. Cummins had a return on equity of 30.72% and a net margin of 10.24%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the company earned $3.30 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Cummins Inc. will post 16.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Friday, May 24th were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.66%. Cummins’s dividend payout ratio (DPR) is 34.47%.

Several research firms have recently issued reports on CMI. Wells Fargo & Co reduced their target price on Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Evercore ISI reissued an “in-line” rating and set a $169.00 target price (up from $163.00) on shares of Cummins in a report on Friday, May 31st. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, May 3rd. Stifel Nicolaus increased their target price on Cummins from $176.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their target price on Cummins from $130.00 to $135.00 and gave the stock a “sell” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $166.98.

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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