ST Germain D J Co. Inc. trimmed its holdings in Cummins Inc. (NYSE:CMI) by 2.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,838 shares of the company’s stock after selling 2,531 shares during the quarter. Cummins comprises approximately 1.6% of ST Germain D J Co. Inc.’s portfolio, making the stock its 20th biggest position. ST Germain D J Co. Inc. owned approximately 0.06% of Cummins worth $15,050,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Comerica Securities Inc. lifted its stake in Cummins by 6.4% in the 4th quarter. Comerica Securities Inc. now owns 10,386 shares of the company’s stock worth $1,388,000 after purchasing an additional 622 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cummins by 37.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,289,666 shares of the company’s stock worth $172,338,000 after purchasing an additional 350,979 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cummins by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,495,807 shares of the company’s stock worth $333,085,000 after purchasing an additional 97,017 shares in the last quarter. Actinver Wealth Management Inc. purchased a new stake in Cummins in the 4th quarter worth approximately $212,000. Finally, Rockland Trust Co. lifted its stake in Cummins by 3.3% in the 1st quarter. Rockland Trust Co. now owns 7,517 shares of the company’s stock worth $1,187,000 after purchasing an additional 238 shares in the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Cummins stock traded down $1.05 on Friday, hitting $158.68. 1,316,903 shares of the company traded hands, compared to its average volume of 1,166,370. The company’s 50-day simple moving average is $169.41. The company has a current ratio of 1.66, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.20 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.25 and a beta of 1.14. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $175.91.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.311 per share. The ex-dividend date is Tuesday, August 20th. This represents a $5.24 annualized dividend and a dividend yield of 3.30%. This is a boost from Cummins’s previous quarterly dividend of $1.14. Cummins’s dividend payout ratio (DPR) is 34.47%.
Several research firms have issued reports on CMI. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Friday, May 3rd. Wells Fargo & Co lowered their target price on shares of Cummins from $175.00 to $165.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. UBS Group increased their target price on shares of Cummins from $130.00 to $135.00 and gave the stock a “sell” rating in a research note on Wednesday, May 1st. Credit Suisse Group increased their target price on shares of Cummins from $198.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their target price for the stock from $155.00 to $190.00 in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Cummins currently has an average rating of “Hold” and an average price target 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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