Cummins Inc. (NYSE:CMI) Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC raised its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 53.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,504 shares of the company's stock after buying an additional 867 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Cummins were worth $873,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cummins by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock valued at $5,912,830,000 after purchasing an additional 250,650 shares in the last quarter. Geode Capital Management LLC increased its stake in Cummins by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 3,377,583 shares of the company's stock valued at $1,174,504,000 after purchasing an additional 84,112 shares in the last quarter. Fisher Asset Management LLC increased its stake in Cummins by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,072,457 shares of the company's stock valued at $1,071,059,000 after purchasing an additional 66,887 shares in the last quarter. Northern Trust Corp increased its stake in Cummins by 15.1% during the 4th quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock valued at $656,418,000 after purchasing an additional 246,807 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cummins by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,093 shares of the company's stock valued at $566,856,000 after purchasing an additional 99,009 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Activity

In related news, Director John H. Stone acquired 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the acquisition, the director now directly owns 2,441 shares in the company, valued at $810,607.28. The trade was a 69.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.

Cummins Price Performance

Shares of Cummins stock traded up $9.00 on Tuesday, hitting $326.23. 731,027 shares of the company traded hands, compared to its average volume of 804,055. The business has a 50-day simple moving average of $304.18 and a 200 day simple moving average of $340.63. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The stock has a market capitalization of $44.94 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping the consensus estimate of $4.92 by $1.04. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.08 earnings per share. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a yield of 2.23%. Cummins's dividend payout ratio is presently 36.22%.

Analysts Set New Price Targets

CMI has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Cummins from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, May 12th. Barclays raised their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and dropped their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Morgan Stanley raised their price objective on shares of Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Cummins currently has a consensus rating of "Hold" and a consensus target price of $357.25.

Cummins Profile

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.