Dohj LLC Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

Dohj LLC reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,636 shares of the company’s stock after selling 547 shares during the quarter. Cummins accounts for 1.1% of Dohj LLC’s portfolio, making the stock its 29th largest position. Dohj LLC’s holdings in Cummins were worth $2,106,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. NewSquare Capital LLC raised its holdings in Cummins by 3.4% in the first quarter. NewSquare Capital LLC now owns 14,795 shares of the company’s stock valued at $3,833,000 after acquiring an additional 486 shares in the last quarter. Keybank National Association OH raised its holdings in Cummins by 27.6% in the first quarter. Keybank National Association OH now owns 225,779 shares of the company’s stock valued at $58,502,000 after acquiring an additional 48,775 shares in the last quarter. LA Financiere DE L Echiquier raised its holdings in Cummins by 18.7% in the second quarter. LA Financiere DE L Echiquier now owns 172,434 shares of the company’s stock valued at $42,042,000 after acquiring an additional 27,147 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Cummins by 7.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,498 shares of the company’s stock valued at $2,720,000 after acquiring an additional 697 shares in the last quarter. Finally, Sepio Capital LP raised its holdings in shares of Cummins by 321.4% during the first quarter. Sepio Capital LP now owns 10,121 shares of the company’s stock worth $2,623,000 after purchasing an additional 7,719 shares during the period. Institutional investors own 80.40% of the company’s stock.

CMI stock traded up $3.40 during mid-day trading on Wednesday, reaching $235.22. 7,957 shares of the stock traded hands, compared to its average volume of 1,055,287. The stock’s fifty day moving average is $235.84 and its 200-day moving average is $249.76. 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 cap of $33.78 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.27 and a beta of 1.05. Cummins Inc. has a 52-week low of $199.70 and a 52-week high of $277.09.

Cummins (NYSE:CMI) last released its quarterly earnings data on Monday, August 2nd. The company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.04. Cummins had a return on equity of 25.26% and a net margin of 9.52%. The firm had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was up 58.4% on a year-over-year basis. Equities research analysts expect that Cummins Inc. will post 16.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Friday, August 20th were issued a $1.45 dividend. The ex-dividend date was Thursday, August 19th. This represents a $5.80 dividend on an annualized basis and a yield of 2.47%. This is an increase from Cummins’s previous quarterly dividend of $1.35. Cummins’s dividend payout ratio is currently 47.62%.

Several research firms have recently commented on CMI. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Cummins from $262.00 to $255.00 and set a “hold” rating for the company in a research report on Wednesday, July 14th. Cowen upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $284.00 price target for the company in a research report on Friday, July 16th. Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $251.00 target price for the company. in a research report on Thursday, July 15th. Vertical Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Monday, July 26th. Finally, Credit Suisse Group increased their target price on shares of Cummins from $300.00 to $307.00 and gave the company an “outperform” rating in a research report on Wednesday, August 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $280.83.

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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