Cummins Inc. (NYSE:CMI) Stock Holdings Lessened by Community Bank N.A.

Community Bank N.A. lowered its stake in Cummins Inc. (NYSE:CMI) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,114 shares of the company’s stock after selling 2,086 shares during the period. Community Bank N.A.’s holdings in Cummins were worth $2,618,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FDx Advisors Inc. bought a new stake in shares of Cummins during the first quarter valued at approximately $27,000. Ballast Advisors LLC acquired a new position in Cummins in the first quarter valued at approximately $28,000. Capital Square LLC acquired a new position in Cummins in the first quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV acquired a new position in Cummins in the first quarter valued at approximately $32,000. Finally, Sonora Investment Management LLC lifted its holdings in Cummins by 87.4% in the first quarter. Sonora Investment Management LLC now owns 238 shares of the company’s stock valued at $32,000 after buying an additional 111 shares during the period. 80.86% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Cummins from $167.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Loop Capital increased their price objective on shares of Cummins from $130.00 to $160.00 and gave the company a “sell” rating in a report on Wednesday. TheStreet upgraded shares of Cummins from a “c+” rating to a “b” rating in a report on Friday, May 1st. Citigroup increased their target price on shares of Cummins from $182.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Royal Bank of Canada increased their target price on shares of Cummins from $165.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $185.71.

Shares of NYSE:CMI traded down $1.22 during midday trading on Friday, reaching $193.26. 994,753 shares of the company were exchanged, compared to its average volume of 1,072,412. Cummins Inc. has a fifty-two week low of $101.03 and a fifty-two week high of $204.98. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $176.98 and a two-hundred day simple moving average of $160.75. The firm has a market cap of $28.51 billion, a PE ratio of 17.24, a P/E/G ratio of 3.41 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.93. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.68 billion. Cummins had a net margin of 8.46% and a return on equity of 21.04%. The firm’s quarterly revenue was down 38.1% on a year-over-year basis. During the same period last year, the business posted $4.27 earnings per share. As a group, analysts forecast that Cummins Inc. will post 8.78 earnings per share for the current year.

The firm 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 $1.311 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, August 20th. Cummins’s dividend payout ratio (DPR) is currently 34.82%.

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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