Cummins Inc. (NYSE:CMI) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 19.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 94,641 shares of the company’s stock after purchasing an additional 15,271 shares during the period. Janus Henderson Group PLC’s holdings in Cummins were worth $33,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. KG&L Capital Management LLC lifted its holdings in Cummins by 0.8% in the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after acquiring an additional 28 shares during the period. Signaturefd LLC lifted its holdings in Cummins by 0.9% in the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock valued at $1,155,000 after acquiring an additional 28 shares during the period. Fiduciary Trust Co lifted its holdings in Cummins by 1.2% in the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company’s stock valued at $856,000 after acquiring an additional 28 shares during the period. Finally, Massachusetts Wealth Management lifted its holdings in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 0.3%

Cummins stock opened at $333.47 on Thursday. The stock has a market cap of $45.94 billion, a PE ratio of 11.84, a P/E/G ratio of 2.19 and a beta of 1.02. The stock has a 50-day moving average price of $303.97 and a 200 day moving average price of $341.37. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $1.04. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.08 EPS. Equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is 36.22%.

Analyst Ratings Changes

A number of equities research analysts have commented on CMI shares. Citigroup raised their target price on Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. UBS Group downgraded Cummins from a “buy” rating to a “sell” rating and cut their price target for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. Finally, Evercore ISI lifted their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $354.83.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.