5 Dividend Achievers to Buy in 2022

2. Cummins Inc. (NYSE:CMI)

Dividend Yield as of May 10: 2.94%

Number of Hedge Fund Holders: 40

Number of Years of Consecutive Dividend Increases: 17

Cummins Inc. (NYSE:CMI) manufactures and sells diesel and natural gas engines, electric and hybrid powertrains, and relevant components worldwide. Cummins Inc. (NYSE:CMI)’s dividend yield on May 10 came in at 2.94% and the company has consistently increased dividends for 17 years. 

On May 3, Cummins Inc. (NYSE:CMI) reported earnings for Q1, posting an EPS of $4.04, beating estimates by $0.49. The $6.39 billion revenue outperformed market consensus by $310.88 million. 

Cummins Inc. (NYSE:CMI) declared on May 10 a $1.45 per share quarterly dividend, in line with previous. The dividend is payable on June 2, to shareholders of record on May 20. 

Credit Suisse analyst Jamie Cook on May 4 maintained an Outperform rating on Cummins Inc. (NYSE:CMI) but lowered the firm’s price target on the shares to $270 from $304 on revised estimates. The analyst noted that Cummins Inc. (NYSE:CMI) closed 4% higher after beating Q1 EPS by 11% on better revenues and profits.

According to Insider Monkey’s Q4 data, 40 hedge funds were bullish on Cummins Inc. (NYSE:CMI), up from 30 funds in the last quarter. The total stakes held in the fourth quarter of 2021 amounted to $961 million, compared to $830 million in Q3. Jean-Marie Eveillard’s First Eagle Investment Management is the leading shareholder of Cummins Inc. (NYSE:CMI), with 1.90 million shares worth $416.5 million.