B. Metzler seel. Sohn & Co. AG Makes New $15.08 Million Investment in Cummins Inc. $CMI

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 21,138 Cummins shares worth approximately $15.08 million during the second quarter. Institutional investors collectively own 83.46% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $745.64.
• Cummins reported quarterly revenue of $9.46 billion, up 9.4% year over year, but missed earnings expectations. The company also raised its quarterly dividend to $2.20 per share, implying a 1.5% yield.

B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,138 shares of the company's stock, valued at approximately $15,076,000.

Several other large investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock worth $736,000 after acquiring an additional 83 shares in the last quarter. Intech Investment Management LLC grew its holdings in Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company's stock valued at $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company's stock valued at $21,055,000 after buying an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC purchased a new position in shares of Cummins in the second quarter valued at $225,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Cummins during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. Weiss Ratings upgraded shares of Cummins from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Sanford C. Bernstein restated a "market perform" rating and set a $700.00 target price on shares of Cummins in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Cummins from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Wells Fargo & Company increased their price target on shares of Cummins from $794.00 to $874.00 and gave the company an "overweight" rating in a research report on Wednesday, June 17th. Finally, Citigroup raised their price objective on shares of Cummins from $770.00 to $790.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $745.64.

Cummins Stock Down 2.5%

Shares of NYSE:CMI opened at $593.12 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm has a market cap of $81.65 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.45 and a beta of 1.24. The stock's 50-day moving average price is $662.30 and its two-hundred day moving average price is $628.59. Cummins Inc. has a 12-month low of $389.52 and a 12-month high of $737.76.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.33 billion. During the same quarter in the previous year, the company earned $6.43 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Cummins Inc. will post 30.06 EPS for the current year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. This is a positive change from Cummins's previous quarterly dividend of $2.00. Cummins's payout ratio is currently 40.88%.

Cummins 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.

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