Invictus RG cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 39.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,678 shares of the company’s stock after selling 1,084 shares during the period. Invictus RG’s holdings in Cummins were worth $282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Cummins during the third quarter valued at approximately $132,000. Captrust Financial Advisors purchased a new stake in Cummins during the second quarter valued at approximately $137,000. Acrospire Investment Management LLC purchased a new stake in Cummins during the second quarter valued at approximately $146,000. First Interstate Bank lifted its position in Cummins by 2.7% during the second quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after acquiring an additional 25 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in Cummins by 8,684.6% during the second quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock valued at $185,000 after acquiring an additional 1,129 shares during the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.

Cummins Inc. (NYSE CMI) opened at $165.38 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $181.79. The stock has a market cap of $27,358.08, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.32 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the company posted $2.02 earnings per share. The firm’s revenue was up 26.2% compared to the same quarter last year. analysts forecast that Cummins Inc. will post 10.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.61%. Cummins’s dividend payout ratio (DPR) is presently 43.86%.

CMI has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BMO Capital Markets raised their price target on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Buckingham Research initiated coverage on shares of Cummins in a report on Tuesday, September 5th. They issued a “buy” rating and a $180.00 price target for the company. Piper Jaffray Companies set a $170.00 price target on shares of Cummins and gave the stock a “hold” rating in a report on Tuesday, October 31st. Finally, Longbow Research cut shares of Cummins from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $176.41.

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Cummins Company 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.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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