Cummins Inc. (NYSE:CMI) Stock Position Reduced by Stephens Inc. AR

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Stephens Inc. AR lessened its position in shares of Cummins Inc. (NYSE:CMI) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,581 shares of the company’s stock after selling 261 shares during the period. Stephens Inc. AR’s holdings in Cummins were worth $6,268,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Comerica Securities Inc. grew its stake in shares of Cummins by 6.4% in the fourth quarter. Comerica Securities Inc. now owns 10,386 shares of the company’s stock valued at $1,388,000 after buying an additional 622 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cummins by 37.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,289,666 shares of the company’s stock valued at $172,338,000 after purchasing an additional 350,979 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cummins by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,495,807 shares of the company’s stock valued at $333,085,000 after purchasing an additional 97,017 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Cummins in the 1st quarter valued at $206,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Cummins in the 1st quarter valued at $728,000. 81.51% of the stock is currently owned by institutional investors.

Shares of Cummins stock traded up $1.26 during midday trading on Thursday, hitting $145.75. The company had a trading volume of 28,160 shares, compared to its average volume of 1,332,019. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $175.91. The business has a fifty day moving average price of $165.70. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $22.77 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.38 by ($0.11). Cummins had a return on equity of 29.75% and a net margin of 10.74%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the company posted $4.14 EPS. Cummins’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 15.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st will be issued a $1.311 dividend. This represents a $5.24 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, August 20th. This is an increase from Cummins’s previous quarterly dividend of $1.14. Cummins’s dividend payout ratio is 34.47%.

Several equities research analysts recently issued reports on CMI shares. UBS Group raised their target price on shares of Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research note on Wednesday, May 1st. Standpoint Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Wells Fargo & Co dropped their price objective on shares of Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a report on Monday, June 3rd. Morgan Stanley dropped their price objective on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Finally, Loop Capital lowered shares of Cummins from a “hold” rating to a “sell” rating and dropped their price objective for the company from $168.00 to $145.00 in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $166.67.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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