Cummins Inc. (NYSE:CMI) Shares Acquired by CSat Investment Advisory L.P.

CSat Investment Advisory L.P. boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 2,467.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,157 shares of the company’s stock after purchasing an additional 2,073 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Cummins were worth $370,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CMI. Gradient Investments LLC raised its position in Cummins by 102.8% during the second quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after buying an additional 74 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Cummins during the 2nd quarter worth approximately $26,000. Kempen Capital Management N.V. purchased a new stake in shares of Cummins during the 2nd quarter worth approximately $29,000. Sonora Investment Management LLC purchased a new stake in shares of Cummins during the 2nd quarter worth approximately $32,000. Finally, Lenox Wealth Advisors LLC purchased a new stake in shares of Cummins during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.30% of the company’s stock.

CMI traded down $0.45 on Friday, hitting $161.57. The company’s stock had a trading volume of 3,617,052 shares, compared to its average volume of 1,174,588. The company’s 50 day simple moving average is $152.88 and its 200-day simple moving average is $161.06. The firm has a market cap of $25.56 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $175.91. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.18.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st were issued a $1.311 dividend. This represents a $5.24 annualized dividend and a yield of 3.25%. This is an increase from Cummins’s previous quarterly dividend of $1.14. The ex-dividend date was Tuesday, August 20th. Cummins’s dividend payout ratio (DPR) is presently 39.61%.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Cummins from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Standpoint Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Wells Fargo & Co cut their price objective on shares of Cummins from $175.00 to $165.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Loop Capital downgraded shares of Cummins from a “hold” rating to a “sell” rating and cut their price objective for the stock from $168.00 to $145.00 in a report on Tuesday, July 2nd. Finally, Morgan Stanley cut their price objective on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock presently 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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