California Public Employees Retirement System Acquires 31,143 Shares of Cummins Inc. (NYSE:CMI)

California Public Employees Retirement System lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 485,754 shares of the company’s stock after purchasing an additional 31,143 shares during the period. California Public Employees Retirement System owned about 0.29% of Cummins worth $78,736,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Cummins by 104.5% in the 4th quarter. Victory Capital Management Inc. now owns 149,873 shares of the company’s stock worth $26,474,000 after acquiring an additional 76,584 shares during the last quarter. Green Square Capital LLC grew its holdings in Cummins by 24.9% in the 4th quarter. Green Square Capital LLC now owns 47,852 shares of the company’s stock worth $8,452,000 after acquiring an additional 9,542 shares during the last quarter. ARP Americas LP grew its holdings in Cummins by 438.2% in the 4th quarter. ARP Americas LP now owns 20,997 shares of the company’s stock worth $3,709,000 after acquiring an additional 17,096 shares during the last quarter. Koch Industries Inc. grew its holdings in Cummins by 303.7% in the 4th quarter. Koch Industries Inc. now owns 6,645 shares of the company’s stock worth $1,174,000 after acquiring an additional 4,999 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in Cummins by 53.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 28,561 shares of the company’s stock worth $5,045,000 after acquiring an additional 9,939 shares during the last quarter. 81.28% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on CMI shares. Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Wells Fargo & Co reaffirmed a “buy” rating and set a $195.00 target price (down previously from $210.00) on shares of Cummins in a research note on Thursday, February 22nd. Morgan Stanley assumed coverage on shares of Cummins in a research note on Friday, March 2nd. They set an “equal weight” rating and a $173.00 target price on the stock. Deutsche Bank raised shares of Cummins from a “sell” rating to a “hold” rating and set a $147.00 target price on the stock in a research note on Monday, March 19th. Finally, Piper Jaffray Companies set a $164.00 target price on shares of Cummins and gave the company a “hold” rating in a research note on Thursday, April 5th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $171.45.



Shares of Cummins stock opened at $141.89 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.99. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.98 and a beta of 1.18. Cummins Inc. has a 52-week low of $140.60 and a 52-week high of $194.18.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 1st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.39. Cummins had a net margin of 4.33% and a return on equity of 23.47%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the previous year, the company earned $2.36 earnings per share. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. research analysts predict that Cummins Inc. will post 13.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 18th were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.04%. Cummins’s dividend payout ratio is presently 40.68%.

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.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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