American Trust Investment Advisors LLC lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,620 shares of the company’s stock after selling 100 shares during the period. American Trust Investment Advisors LLC’s holdings in Cummins were worth $278,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Gradient Investments LLC lifted its stake in shares of Cummins by 102.8% in the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after acquiring an additional 74 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Cummins in the 1st quarter valued at about $32,000. Sonora Investment Management LLC bought a new stake in shares of Cummins in the 2nd quarter valued at about $32,000. Lenox Wealth Advisors LLC bought a new stake in shares of Cummins in the 2nd quarter valued at about $33,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Cummins in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 82.34% of the company’s stock.
CMI stock traded up $1.13 during trading on Friday, reaching $166.18. The company’s stock had a trading volume of 2,414 shares, compared to its average volume of 1,295,644. Cummins Inc. has a 1 year low of $124.40 and a 1 year 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. The company has a market capitalization of $26.39 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company’s fifty day moving average is $154.27 and its 200-day moving average is $160.72.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $4.38 by ($0.11). Cummins had a net margin of 10.74% and a return on equity of 29.75%. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same period last year, the company earned $4.14 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts anticipate that Cummins Inc. will post 15.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were issued a $1.311 dividend. This is a positive change from Cummins’s previous quarterly dividend of $1.14. This represents a $5.24 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Tuesday, August 20th. Cummins’s dividend payout ratio is currently 39.61%.
A number of equities research analysts have recently weighed in on CMI shares. Loop Capital lowered Cummins from a “hold” rating to a “sell” rating and lowered their target price for the company from $168.00 to $145.00 in a research note on Tuesday, July 2nd. Evercore ISI restated an “in-line” rating and set a $169.00 price target (up previously from $163.00) on shares of Cummins in a report on Friday, May 31st. ValuEngine downgraded Cummins from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Standpoint Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley reduced their target price on Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $166.67.
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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