LS Investment Advisors LLC Has $1.05 Million Stake in Cummins Inc. (CMI)
LS Investment Advisors LLC lifted its position in Cummins Inc. (NYSE:CMI) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,958 shares of the company’s stock after purchasing an additional 1,107 shares during the period. LS Investment Advisors LLC’s holdings in Cummins were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisor Partners LLC increased its stake in shares of Cummins by 8.1% in the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock worth $680,000 after purchasing an additional 269 shares in the last quarter. Kessler Investment Group LLC increased its stake in shares of Cummins by 1.8% in the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock worth $3,318,000 after purchasing an additional 329 shares in the last quarter. Hartford Investment Management Co. increased its stake in shares of Cummins by 1.0% in the third quarter. Hartford Investment Management Co. now owns 34,314 shares of the company’s stock worth $5,766,000 after purchasing an additional 349 shares in the last quarter. Blue Chip Partners Inc. increased its stake in shares of Cummins by 9.2% in the fourth quarter. Blue Chip Partners Inc. now owns 4,179 shares of the company’s stock worth $738,000 after purchasing an additional 353 shares in the last quarter. Finally, Spectrum Management Group Inc. increased its stake in shares of Cummins by 3.6% in the fourth quarter. Spectrum Management Group Inc. now owns 10,296 shares of the company’s stock worth $1,819,000 after purchasing an additional 359 shares in the last quarter. 83.06% of the stock is owned by hedge funds and other institutional investors.
Cummins Inc. (NYSE:CMI) opened at $165.63 on Wednesday. Cummins Inc. has a 12-month low of $143.83 and a 12-month high of $194.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.57. The company has a market cap of $27,512.43, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Friday, February 23rd will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.61%. Cummins’s dividend payout ratio (DPR) is currently 72.61%.
A number of brokerages have recently issued reports on CMI. Credit Suisse Group reduced their price objective on shares of Cummins from $208.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TheStreet lowered shares of Cummins from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. Stifel Nicolaus restated a “hold” rating and set a $182.00 target price on shares of Cummins in a research report on Monday, February 5th. Deutsche Bank set a $169.00 target price on shares of Cummins and gave the stock a “sell” rating in a research report on Monday, February 5th. Finally, Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a research report on Friday, February 9th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. Cummins currently has a consensus rating of “Hold” and a consensus target price of $188.18.
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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