LMR Partners LLP Grows Holdings in Cummins Inc. (NYSE:CMI)

LMR Partners LLP lifted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 194.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,021 shares of the company's stock after purchasing an additional 1,994 shares during the period. LMR Partners LLP's holdings in Cummins were worth $1,053,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CMI. Logan Capital Management Inc. grew its stake in Cummins by 1.1% in the 4th quarter. Logan Capital Management Inc. now owns 18,162 shares of the company's stock valued at $6,331,000 after buying an additional 196 shares during the last quarter. Interval Partners LP acquired a new position in shares of Cummins during the 4th quarter worth approximately $8,910,000. Janus Henderson Group PLC grew its position in shares of Cummins by 19.2% during the 4th quarter. Janus Henderson Group PLC now owns 94,641 shares of the company's stock worth $33,008,000 after purchasing an additional 15,271 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Cummins during the 4th quarter worth approximately $5,580,000. Finally, Graham Capital Management L.P. grew its position in shares of Cummins by 245.5% during the 4th quarter. Graham Capital Management L.P. now owns 15,200 shares of the company's stock worth $5,299,000 after purchasing an additional 10,800 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Up 0.8%

Shares of Cummins stock traded up $2.67 during trading hours on Friday, reaching $334.78. The company's stock had a trading volume of 782,982 shares, compared to its average volume of 807,865. Cummins Inc. has a one year low of $260.02 and a one year high of $387.90. The company has a market capitalization of $46.12 billion, a P/E ratio of 11.88, a P/E/G ratio of 2.19 and a beta of 1.02. The stock's fifty day simple moving average is $304.05 and its two-hundred day simple moving average is $341.37. 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 released its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. During the same period last year, the firm earned $5.08 earnings per share. The firm's revenue was down 2.7% on a year-over-year basis. On average, research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a $1.82 dividend. The ex-dividend date is Friday, May 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.17%. Cummins's payout ratio is 36.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CMI shares. Citigroup upped their price target on shares of Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Barclays increased their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and decreased their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of "Hold" and a consensus price target of $354.83.

Insider Buying and Selling at Cummins

In other news, Director John H. Stone purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director now directly owns 2,441 shares of the company's stock, valued at $810,607.28. This represents a 69.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Cummins Company 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.