Landscape Capital Management L.L.C. Takes $6.11 Million Position in Cummins Inc. $CMI

Landscape Capital Management L.L.C. acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,560 shares of the company’s stock, valued at approximately $6,105,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its position in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Cedar Mountain Advisors LLC grew its holdings in shares of 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 acquiring an additional 45 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Cummins in the 2nd quarter worth approximately $26,000. Wellington Shields Capital Management LLC purchased a new position in Cummins in the 4th quarter valued at approximately $27,000. Finally, Key Financial Inc raised its holdings in Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMI has been the topic of a number of research analyst reports. Barclays boosted their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group cut their price target on Cummins from $850.00 to $835.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Truist Financial set a $894.00 price objective on shares of Cummins in a research report on Wednesday, August 5th. Sanford C. Bernstein reissued a “market perform” rating and issued a $700.00 price objective on shares of Cummins in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and an average price target of $745.64.

Cummins Price Performance

Shares of NYSE:CMI opened at $587.87 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The business’s fifty day moving average price is $660.86 and its two-hundred day moving average price is $628.31. The stock has a market cap of $80.93 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. Cummins Inc. has a one year low of $389.52 and a one year high of $737.76.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a return on equity of 25.29% and a net margin of 7.82%.The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same period last year, the firm earned $6.43 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that Cummins Inc. will post 30.06 EPS for the current fiscal 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 paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change from Cummins’s previous quarterly dividend of $2.00. Cummins’s dividend payout ratio is presently 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.