Cummins Inc. (CMI) is Pring Turner Capital Group Inc.’s 7th Largest Position
Pring Turner Capital Group Inc. held its position in Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,100 shares of the company’s stock at the close of the 2nd quarter. Cummins comprises 3.3% of Pring Turner Capital Group Inc.’s holdings, making the stock its 7th biggest position. Pring Turner Capital Group Inc.’s holdings in Cummins were worth $3,261,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CMI. American Century Companies Inc. lifted its holdings in Cummins by 18.1% in the first quarter. American Century Companies Inc. now owns 2,633,596 shares of the company’s stock valued at $398,200,000 after acquiring an additional 402,929 shares during the period. Flinton Capital Management LLC lifted its holdings in Cummins by 81.7% in the first quarter. Flinton Capital Management LLC now owns 153,918 shares of the company’s stock valued at $23,272,000 after acquiring an additional 69,224 shares during the period. FTB Advisors Inc. lifted its holdings in Cummins by 8.6% in the first quarter. FTB Advisors Inc. now owns 14,407 shares of the company’s stock valued at $2,176,000 after acquiring an additional 1,136 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Cummins by 27.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 45,408 shares of the company’s stock valued at $6,958,000 after acquiring an additional 9,713 shares during the period. Finally, Community Bank N.A. lifted its holdings in Cummins by 0.3% in the first quarter. Community Bank N.A. now owns 12,359 shares of the company’s stock valued at $1,869,000 after acquiring an additional 35 shares during the period. 80.38% of the stock is owned by institutional investors.
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Cummins Inc. (NYSE CMI) traded up 1.68% during mid-day trading on Monday, reaching $168.01. The company had a trading volume of 485,271 shares. The firm has a market capitalization of $28.06 billion, a P/E ratio of 18.99 and a beta of 1.10. The stock’s 50-day moving average is $158.42 and its 200 day moving average is $156.70. Cummins Inc. has a 12 month low of $118.28 and a 12 month high of $170.68.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.05). The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. On average, analysts predict that Cummins Inc. will post $7.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $1.08 dividend. This is a positive change from Cummins’s previous quarterly dividend of $1.03. This represents a $4.32 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, August 16th. Cummins’s dividend payout ratio is presently 48.76%.
In other news, Director Franklin R. Changdiaz sold 1,633 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total transaction of $260,087.91. Following the transaction, the director now owns 5,814 shares of the company’s stock, valued at approximately $925,995.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pat Ward sold 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $169.00, for a total value of $845,000.00. Following the transaction, the chief financial officer now directly owns 245 shares in the company, valued at approximately $41,405. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,183 shares of company stock worth $7,320,858. Insiders own 0.62% of the company’s stock.
Several research firms have recently issued reports on CMI. Stifel Nicolaus lifted their price target on Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $166.00 price target on shares of Cummins in a research note on Wednesday, July 12th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $161.00 price target on shares of Cummins in a research note on Wednesday, July 12th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Cummins presently has an average rating of “Hold” and an average price target of $161.15.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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