18,171 Shares in Cummins Inc. $CMI Purchased by Vise Technologies Inc.

Vise Technologies Inc. bought a new stake in Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,171 shares of the company’s stock, valued at approximately $12,960,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Vanguard Group Inc. grew its position in Cummins by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after acquiring an additional 98,544 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Cummins in the 2nd quarter worth about $8,204,241,000. State Street Corp raised its stake in Cummins by 0.8% during the fourth quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after buying an additional 49,628 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cummins by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after purchasing an additional 35,286 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after purchasing an additional 43,722 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMI. Weiss Ratings raised shares of Cummins from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Sanford C. Bernstein restated a “market perform” rating and issued a $700.00 target price on shares of Cummins in a research note on Wednesday, August 5th. UBS Group lowered their target price on Cummins from $850.00 to $835.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Citigroup increased their price target on Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $745.64.

Cummins Trading Down 2.5%

Shares of NYSE:CMI opened at $593.12 on Friday. The company has a 50 day moving average of $662.30 and a 200-day moving average of $628.59. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm has a market cap of $81.65 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.45 and a beta of 1.24. Cummins Inc. has a twelve month low of $389.52 and a twelve month high of $737.76.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same quarter in the prior year, the business earned $6.43 EPS. Cummins’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 30.06 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 1.5%. This is a positive change from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins’s dividend payout ratio (DPR) is presently 40.88%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.