B. Metzler seel. Sohn & Co. AG lessened its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 15.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,138 shares of the company's stock after selling 3,822 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Cummins were worth $15,076,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. Live Oak Private Wealth LLC grew its stake in Cummins by 5.2% in the 2nd quarter. Live Oak Private Wealth LLC now owns 1,013 shares of the company's stock valued at $722,000 after buying an additional 50 shares in the last quarter. Lionsbridge Wealth Management LLC bought a new stake in shares of Cummins during the 2nd quarter valued at $408,000. Symphony Financial Ltd. Co. raised its stake in shares of Cummins by 5.9% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 5,018 shares of the company's stock valued at $3,491,000 after purchasing an additional 279 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in Cummins by 6.0% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 7,171 shares of the company's stock worth $5,115,000 after purchasing an additional 408 shares in the last quarter. Finally, Midwest Professional Planners LTD. lifted its holdings in Cummins by 3.6% during the 2nd quarter. Midwest Professional Planners LTD. now owns 12,700 shares of the company's stock worth $9,058,000 after purchasing an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.
Cummins Stock Performance
NYSE:CMI opened at $550.77 on Thursday. The stock has a market cap of $75.82 billion, a P/E ratio of 28.14, a PEG ratio of 1.49 and a beta of 1.23. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The business's 50-day moving average price is $638.43 and its two-hundred day moving average price is $627.33. Cummins Inc. has a twelve month low of $389.52 and a twelve month high of $737.76.
Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 EPS 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 business had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.33 billion. During the same period in the previous year, the firm posted $6.43 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Cummins Inc. will post 30.06 EPS for the current fiscal year.
Cummins Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 1.6%. This is a boost from Cummins's previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. Cummins's dividend payout ratio (DPR) is presently 44.97%.
Analyst Ratings Changes
CMI has been the subject of a number of recent analyst reports. Citigroup lifted their target price on Cummins from $770.00 to $790.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Cummins from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday. Wells Fargo & Company raised their price objective 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. Robert W. Baird set a $700.00 price objective on shares of Cummins in a research note on Wednesday, May 6th. Finally, UBS Group decreased their target price on shares of Cummins from $850.00 to $835.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $764.54.
Read Our Latest Report on CMI
Insider Buying and Selling
In related news, VP Earl Newsome sold 698 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total value of $399,409.56. Following the transaction, the vice president owned 4,479 shares of the company's stock, valued at $2,562,973.38. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
Cummins Profile
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Cummins, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list.
While Cummins currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
