Bridgewater Advisors Inc. Invests $3.97 Million in Cummins Inc. $CMI

Bridgewater Advisors Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,125 shares of the company's stock, valued at approximately $3,973,000.

Other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its holdings in shares of Cummins by 91.7% during the second quarter. Elevation Wealth Partners LLC now owns 46 shares of the company's stock valued at $33,000 after acquiring an additional 22 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in Cummins by 1,500.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company's stock worth $26,000 after purchasing an additional 45 shares in the last quarter. Activest Wealth Management boosted its stake in Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company's stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Cummins during the 4th quarter valued at about $27,000. Finally, Key Financial Inc raised its holdings in Cummins by 62.5% in the first quarter. Key Financial Inc now owns 52 shares of the company's stock worth $28,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CMI. Barclays increased their price target on shares of Cummins from $610.00 to $760.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Cummins in a research note on Monday, August 3rd. Robert W. Baird set a $700.00 target price on Cummins in a report on Wednesday, May 6th. Citigroup boosted their price target on Cummins from $770.00 to $790.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price objective on Cummins from $600.00 to $725.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $745.64.

Cummins Price Performance

Shares of CMI opened at $631.81 on Friday. The firm has a market cap of $86.98 billion, a PE ratio of 32.28, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $665.58 and a two-hundred day simple moving average of $627.15. Cummins Inc. has a 1-year low of $389.52 and a 1-year high of $737.76.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. Cummins's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $6.43 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 30.15 EPS for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a $2.20 dividend. This is a positive change from Cummins's previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 21st. Cummins's dividend payout ratio is currently 40.88%.

Cummins Company Profile

Cummins Inc NYSE: CMI is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world's leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company's product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

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