Caxton Associates LP bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,400 shares of the company’s stock, valued at approximately $571,000.

Other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of Cummins during the 3rd quarter valued at approximately $132,000. Captrust Financial Advisors purchased a new position in shares of Cummins during the 2nd quarter valued at approximately $137,000. Acrospire Investment Management LLC purchased a new position in shares of Cummins during the 2nd quarter valued at approximately $146,000. First Interstate Bank increased its holdings in shares of Cummins by 2.7% during the 2nd quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after purchasing an additional 25 shares in the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of Cummins by 8,684.6% during the 2nd quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock valued at $185,000 after purchasing an additional 1,129 shares in the last quarter. 82.50% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Cummins in a report on Tuesday. They set an “equal weight” rating and a $180.00 target price for the company. Piper Jaffray Companies set a $175.00 price target on shares of Cummins and gave the stock a “hold” rating in a report on Sunday. Oppenheimer assumed coverage on shares of Cummins in a report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 price target for the company. Goldman Sachs Group lowered shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, November 30th. Finally, ValuEngine lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Cummins currently has an average rating of “Hold” and an average target price of $178.69.

Shares of Cummins Inc. (CMI) opened at $169.22 on Wednesday. Cummins Inc. has a 1-year low of $134.06 and a 1-year high of $181.79. The company has a market cap of $28,342.27, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.41 and a beta of 1.13. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. analysts expect that Cummins Inc. will post 10.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s payout ratio is 43.86%.

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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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