Dimensional Fund Advisors LP Raises Position in Cummins Inc. (NYSE:CMI)

Dimensional Fund Advisors LP increased its position in Cummins Inc. (NYSE:CMI - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,585,802 shares of the company's stock after acquiring an additional 12,722 shares during the period. Dimensional Fund Advisors LP owned about 1.16% of Cummins worth $552,820,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forum Financial Management LP boosted its position in Cummins by 39.2% in the fourth quarter. Forum Financial Management LP now owns 1,616 shares of the company's stock worth $563,000 after purchasing an additional 455 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Cummins by 23.9% in the 4th quarter. GeoWealth Management LLC now owns 3,666 shares of the company's stock worth $1,278,000 after purchasing an additional 706 shares during the period. Alpha DNA Investment Management LLC boosted its holdings in shares of Cummins by 16.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,699 shares of the company's stock worth $941,000 after buying an additional 389 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Cummins by 14.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 134,701 shares of the company's stock valued at $46,933,000 after buying an additional 16,815 shares during the period. Finally, NewEdge Advisors LLC raised its position in Cummins by 36.4% in the fourth quarter. NewEdge Advisors LLC now owns 30,375 shares of the company's stock worth $10,589,000 after acquiring an additional 8,106 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analyst Ratings Changes

CMI has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. StockNews.com cut Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Citigroup lowered their price objective on Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI increased their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird decreased their target price on shares of Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $346.00.

Cummins Price Performance

NYSE CMI traded up $5.10 on Wednesday, reaching $284.21. The company had a trading volume of 852,733 shares, compared to its average volume of 806,616. The firm's 50 day moving average price is $323.22 and its 200 day moving average price is $344.66. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The stock has a market capitalization of $39.15 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the business earned $4.14 earnings per share. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio is 25.84%.

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.