Cypress Asset Management Inc. TX lowered its stake in Cummins Inc. (NYSE:CMI) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,275 shares of the company’s stock after selling 75 shares during the period. Cypress Asset Management Inc. TX’s holdings in Cummins were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CMI. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in Cummins by 46.8% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 16,428 shares of the company’s stock valued at $2,626,000 after buying an additional 5,239 shares during the last quarter. Huntington National Bank increased its stake in shares of Cummins by 42.8% in the second quarter. Huntington National Bank now owns 2,659 shares of the company’s stock valued at $431,000 after buying an additional 797 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Cummins by 0.8% in the second quarter. APG Asset Management N.V. now owns 1,598,972 shares of the company’s stock valued at $259,385,000 after buying an additional 13,100 shares in the last quarter. Investment House LLC increased its stake in shares of Cummins by 0.9% in the second quarter. Investment House LLC now owns 30,774 shares of the company’s stock valued at $4,992,000 after buying an additional 260 shares in the last quarter. Finally, Crossvault Capital Management LLC acquired a new stake in shares of Cummins during the second quarter valued at about $211,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Inc. (NYSE CMI) traded up 1.42% during mid-day trading on Friday, reaching $159.98. 757,182 shares of the company’s stock were exchanged. The firm has a market cap of $26.72 billion, a price-to-earnings ratio of 18.08 and a beta of 1.09. Cummins Inc. has a 12 month low of $116.03 and a 12 month high of $170.68. The stock has a 50-day moving average of $163.27 and a 200-day moving average of $154.51.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.05. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. Cummins’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 EPS. Analysts anticipate that Cummins Inc. will post $7.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.74%. This is an increase from Cummins’s previous quarterly dividend of $1.03. Cummins’s dividend payout ratio (DPR) is presently 46.28%.

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Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Cummins from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $159.00 price target on shares of Cummins in a research note on Thursday. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a research note on Friday. Royal Bank Of Canada restated a “hold” rating and set a $166.00 price target on shares of Cummins in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $160.00 price target (up previously from $150.00) on shares of Cummins in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $154.33.

In other news, CFO Pat Ward sold 5,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $169.00, for a total transaction of $845,000.00. Following the completion of the transaction, the chief financial officer now owns 245 shares of the company’s stock, valued at $41,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis M. Herman sold 1,300 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $159.16, for a total transaction of $206,908.00. Following the transaction, the director now directly owns 29,656 shares of the company’s stock, valued at approximately $4,720,048.96. The disclosure for this sale can be found here. Insiders have sold 60,636 shares of company stock valued at $10,000,575 in the last ninety days. Insiders own 0.62% of the company’s stock.

About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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