Rothschild Investment Corp IL Acquires 275 Shares of Cummins Inc. (NYSE:CMI)

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Rothschild Investment Corp IL raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,671 shares of the company’s stock after acquiring an additional 275 shares during the period. Rothschild Investment Corp IL’s holdings in Cummins were worth $1,085,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CMI. AQR Capital Management LLC raised its position in shares of Cummins by 173.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,366,771 shares of the company’s stock valued at $400,387,000 after acquiring an additional 1,502,462 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cummins by 41.7% during the 1st quarter. American Century Companies Inc. now owns 3,555,700 shares of the company’s stock valued at $561,338,000 after acquiring an additional 1,046,677 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Cummins by 445.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,155,182 shares of the company’s stock valued at $197,928,000 after acquiring an additional 943,285 shares during the last quarter. BlackRock Inc. raised its position in shares of Cummins by 5.8% during the 2nd quarter. BlackRock Inc. now owns 11,488,896 shares of the company’s stock valued at $1,968,509,000 after acquiring an additional 629,235 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Cummins by 161.4% during the 2nd quarter. Holocene Advisors LP now owns 782,716 shares of the company’s stock valued at $134,111,000 after acquiring an additional 483,233 shares during the last quarter. Institutional investors own 82.30% of the company’s stock.

CMI opened at $162.76 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $175.91. The company has a fifty day simple moving average of $156.14 and a 200 day simple moving average of $161.34. The stock has a market cap of $24.46 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.56 and a beta of 1.14.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $4.27 EPS for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). Cummins had a net margin of 10.74% and a return on equity of 29.75%. The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the company earned $4.14 EPS. Cummins’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts expect that Cummins Inc. will post 15.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a $1.311 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, November 13th. Cummins’s dividend payout ratio is currently 39.61%.

CMI has been the subject of several recent research reports. Standpoint Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. ValuEngine cut shares of Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Loop Capital cut shares of Cummins from a “hold” rating to a “sell” rating and dropped their target price for the company from $168.00 to $145.00 in a research report on Tuesday, July 2nd. Morgan Stanley dropped their target price on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Finally, Credit Suisse Group upped their target price on shares of Cummins from $198.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $167.09.

About Cummins

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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