Cummins Inc. (NYSE:CMI) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,768 shares of the company’s stock after selling 124 shares during the period. Intellectus Partners LLC’s holdings in Cummins were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CKW Financial Group acquired a new position in shares of Cummins during the 2nd quarter worth about $32,000. Kempen Capital Management N.V. raised its position in shares of Cummins by 41.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 154 shares of the company’s stock worth $38,000 after purchasing an additional 45 shares during the last quarter. Barrett Asset Management LLC acquired a new position in shares of Cummins during the 2nd quarter worth about $49,000. Paragon Wealth Strategies LLC purchased a new stake in Cummins during the 2nd quarter valued at about $59,000. Finally, Eudaimonia Partners LLC grew its stake in Cummins by 25.4% during the 1st quarter. Eudaimonia Partners LLC now owns 262 shares of the company’s stock valued at $68,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

NYSE:CMI traded up $4.01 during midday trading on Thursday, hitting $235.55. 8,169 shares of the company were exchanged, compared to its average volume of 1,050,243. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $277.09. The company has a current ratio of 1.81, a quick ratio of 1.19 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $33.83 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. The company has a fifty day simple moving average of $232.79 and a 200 day simple moving average of $244.58.

Cummins (NYSE:CMI) last issued its earnings results on Monday, August 2nd. The company reported $4.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.04. Cummins had a net margin of 9.52% and a return on equity of 25.26%. The business had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 58.4% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 16.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 2nd. Stockholders of record on Friday, November 19th will be given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 18th. Cummins’s dividend payout ratio is presently 47.62%.

CMI has been the subject of several research reports. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $251.00 price objective for the company. in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Cummins from $262.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 14th. Citigroup increased their price target on shares of Cummins from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI dropped their price target on shares of Cummins from $315.00 to $299.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Morgan Stanley lowered their price objective on shares of Cummins from $264.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cummins has an average rating of “Buy” and an average price target of $279.31.

Cummins Company Profile

Cummins, Inc designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, 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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