Cummins Inc. $CMI Stock Holdings Trimmed by Atwater Malick LLC

Atwater Malick LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,983 shares of the company’s stock after selling 30 shares during the quarter. Cummins accounts for about 3.7% of Atwater Malick LLC’s portfolio, making the stock its 8th largest position. Atwater Malick LLC’s holdings in Cummins were worth $11,784,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC grew its stake in Cummins by 1.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock valued at $1,076,000 after purchasing an additional 31 shares during the last quarter. Bank of Jackson Hole Trust raised its holdings in Cummins by 1.2% in the 1st quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock worth $887,000 after purchasing an additional 33 shares during the period. Scotia Capital Inc. raised its holdings in shares of Cummins by 0.5% during the first quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock valued at $2,104,000 after acquiring an additional 34 shares during the last quarter. Van Hulzen Asset Management LLC raised its holdings in shares of Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock valued at $872,000 after acquiring an additional 34 shares during the last quarter. Finally, Sylvest Advisors LLC raised its holdings in shares of Cummins by 1.0% during the second quarter. Sylvest Advisors LLC now owns 3,342 shares of the company’s stock valued at $1,095,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity

In related news, VP Amy Rochelle Davis sold 5,002 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This represents a 19.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert Enright sold 1,860 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the completion of the sale, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. The trade was a 66.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,119 shares of company stock worth $14,159,885 in the last three months. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays increased their price target on Cummins from $381.00 to $387.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Wells Fargo & Company upgraded Cummins to an “overweight” rating in a research report on Monday, August 11th. Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a research report on Monday, August 11th. Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, September 3rd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.57.

Cummins Price Performance

Shares of CMI opened at $432.81 on Friday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $433.00. The stock’s 50 day moving average is $399.47 and its two-hundred day moving average is $345.06. The firm has a market capitalization of $59.64 billion, a PE ratio of 20.35, a P/E/G ratio of 2.05 and a beta of 1.04. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the previous year, the company earned $5.26 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.00 per share. This is a positive change from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.8%. Cummins’s dividend payout ratio is presently 37.61%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.