Columbus Circle Investors Has $36.44 Million Position in Cummins Inc. (CMI)

Columbus Circle Investors cut its holdings in Cummins Inc. (NYSE:CMI) by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,872 shares of the company’s stock after selling 63,752 shares during the quarter. Columbus Circle Investors owned 0.13% of Cummins worth $36,441,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CMI. Boston Partners purchased a new stake in shares of Cummins in the third quarter valued at approximately $416,229,000. AJO LP boosted its position in Cummins by 11,096.3% during the second quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after purchasing an additional 1,139,586 shares in the last quarter. Franklin Resources Inc. boosted its position in Cummins by 434.1% during the second quarter. Franklin Resources Inc. now owns 1,380,233 shares of the company’s stock worth $223,902,000 after purchasing an additional 1,121,833 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Cummins by 82.5% during the second quarter. Ameriprise Financial Inc. now owns 1,969,135 shares of the company’s stock worth $319,426,000 after purchasing an additional 890,404 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Cummins by 784.9% during the second quarter. Janus Henderson Group PLC now owns 784,776 shares of the company’s stock worth $127,307,000 after purchasing an additional 696,090 shares in the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.

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A number of analysts have commented on CMI shares. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Monday, October 2nd. Argus boosted their price target on Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Jefferies Group LLC boosted their price target on Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. BMO Capital Markets boosted their price target on Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Finally, ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $173.96.

Shares of Cummins Inc. (NYSE:CMI) traded up $1.37 during midday trading on Friday, hitting $167.13. The stock had a trading volume of 2,264,200 shares, compared to its average volume of 1,289,334. Cummins Inc. has a 52 week low of $134.06 and a 52 week high of $181.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The stock has a market capitalization of $26,490.00, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.16.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 earnings per share. sell-side analysts expect that Cummins Inc. will post 10.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, November 16th. Cummins’s dividend payout ratio is currently 43.90%.

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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