Honkamp Krueger Financial Services Inc. boosted its position in Cummins Inc. (NYSE:CMI) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 3,051 shares of the company’s stock after buying an additional 77 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Cummins were worth $495,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Cummins by 2,874.8% in the first quarter. BlackRock Inc. now owns 10,211,140 shares of the company’s stock worth $1,543,924,000 after buying an additional 9,867,890 shares during the period. Bank of New York Mellon Corp increased its stake in Cummins by 39.0% in the first quarter. Bank of New York Mellon Corp now owns 2,006,014 shares of the company’s stock valued at $303,309,000 after buying an additional 563,279 shares during the last quarter. Vanguard Group Inc. increased its stake in Cummins by 4.7% in the first quarter. Vanguard Group Inc. now owns 11,315,964 shares of the company’s stock valued at $1,710,973,000 after buying an additional 510,416 shares during the last quarter. UBS Group AG increased its stake in Cummins by 118.2% in the first quarter. UBS Group AG now owns 755,368 shares of the company’s stock valued at $114,211,000 after buying an additional 409,168 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Cummins by 18.1% in the first quarter. American Century Companies Inc. now owns 2,633,596 shares of the company’s stock valued at $398,200,000 after buying an additional 402,929 shares during the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.

Cummins Inc. (NYSE CMI) opened at 159.82 on Wednesday. The firm has a 50-day moving average price of $163.10 and a 200 day moving average price of $154.60. The stock has a market cap of $26.69 billion, a PE ratio of 18.06 and a beta of 1.09. Cummins Inc. has a 52-week low of $116.03 and a 52-week high of $170.68.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.58 by $0.05. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $2.40 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. Equities 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. Shareholders of record on Friday, August 18th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from Cummins’s previous quarterly dividend of $1.03. Cummins’s payout ratio is 46.28%.

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Several equities research analysts have recently weighed in on CMI shares. Stifel Nicolaus reissued a “hold” rating and issued a $150.00 price objective on shares of Cummins in a report on Wednesday, April 12th. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a report on Wednesday, April 12th. Wells Fargo & Company raised Cummins from a “market perform” rating to an “outperform” rating in a report on Monday, April 17th. Piper Jaffray Companies downgraded Cummins from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $144.00 in a report on Tuesday, April 18th. Finally, Barclays PLC increased their price objective on Cummins from $137.00 to $144.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Cummins currently has an average rating of “Hold” and an average target price of $154.33.

In other news, CFO Pat Ward sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $845,000.00. Following the sale, the chief financial officer now owns 245 shares of the company’s stock, valued at approximately $41,405. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Georgia R. Nelson sold 1,086 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $156.10, for a total value of $169,524.60. Following the completion of the sale, the director now directly owns 16,512 shares in the company, valued at approximately $2,577,523.20. The disclosure for this sale can be found here. Insiders have sold a total of 59,336 shares of company stock valued at $9,793,667 in the last quarter. 0.62% of the stock is currently owned by insiders.

Cummins Company Profile

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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