Keybank National Association OH Acquires 686 Shares of Cummins Inc. (NYSE:CMI)

Keybank National Association OH lifted its holdings in Cummins Inc. (NYSE:CMI) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,782 shares of the company’s stock after acquiring an additional 686 shares during the period. Keybank National Association OH’s holdings in Cummins were worth $6,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC lifted its position in shares of Cummins by 102.8% in the second quarter. Gradient Investments LLC now owns 146 shares of the company’s stock worth $25,000 after buying an additional 74 shares in the last quarter. Guidant Wealth Advisors purchased a new stake in shares of Cummins in the first quarter worth about $29,000. SeaBridge Investment Advisors LLC purchased a new stake in shares of Cummins in the first quarter worth about $32,000. Meridian Wealth Management LLC purchased a new stake in shares of Cummins in the first quarter worth about $32,000. Finally, Sonora Investment Management LLC purchased a new stake in shares of Cummins in the second quarter worth about $32,000. 81.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CMI traded up $1.02 during midday trading on Thursday, hitting $145.51. The company’s stock had a trading volume of 17,400 shares, compared to its average volume of 1,332,019. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $165.70. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $175.91. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 1.17 and a beta of 1.14.



Cummins (NYSE:CMI) last issued 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 return on equity of 29.75% and a net margin of 10.74%. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.36 billion. During the same quarter in the previous year, the company posted $4.14 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 15.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be issued a $1.311 dividend. This represents a $5.24 annualized dividend and a dividend yield of 3.60%. This is an increase from Cummins’s previous quarterly dividend of $1.14. The ex-dividend date is Tuesday, August 20th. Cummins’s dividend payout ratio is presently 34.47%.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Friday, May 3rd. Stifel Nicolaus boosted their target price on Cummins from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Standpoint Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Wells Fargo & Co decreased their target price on Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. Finally, ValuEngine downgraded Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. 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. Cummins presently has a consensus rating of “Hold” and an average target price of $166.67.

Cummins 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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