Quantinno Capital Management LP Has $126.86 Million Stock Holdings in Cummins Inc. $CMI

Quantinno Capital Management LP boosted its stake in Cummins Inc. (NYSE:CMI) by 21.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,788 shares of the company’s stock after buying an additional 42,043 shares during the quarter. Quantinno Capital Management LP owned approximately 0.17% of Cummins worth $126,859,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Valmark Advisers Inc. increased its stake in shares of Cummins by 1.9% in the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after acquiring an additional 16 shares during the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Cummins by 1.6% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after acquiring an additional 17 shares in the last quarter. Uhlmann Price Securities LLC boosted its position in Cummins by 2.4% during the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after purchasing an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares in the last quarter. Finally, Financial Consulate Inc. grew its stake in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.3%

Shares of Cummins stock opened at $662.51 on Tuesday. Cummins Inc. has a 12-month low of $354.68 and a 12-month high of $737.76. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $671.89 and a two-hundred day moving average price of $620.71. The stock has a market capitalization of $91.42 billion, a P/E ratio of 34.38, a PEG ratio of 1.62 and a beta of 1.22.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm posted $5.96 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 29.39 earnings per share for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be issued a $2.20 dividend. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. This represents a $8.80 annualized dividend and a yield of 1.3%. Cummins’s payout ratio is 41.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of Cummins in a research note on Wednesday, June 17th. JPMorgan Chase & Co. increased their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Argus raised their price objective on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Evercore reissued an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and a consensus price target of $740.07.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president owned 11,986 shares of the company’s stock, valued at $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,579 shares of company stock worth $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Cummins 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.