First Republic Investment Management Inc. lifted its position in Cummins Inc. (NYSE:CMI) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,249 shares of the company’s stock after acquiring an additional 6,531 shares during the period. First Republic Investment Management Inc.’s holdings in Cummins were worth $6,551,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Gables Capital Management Inc. bought a new stake in Cummins during the 1st quarter worth approximately $115,000. Centaurus Financial Inc. bought a new stake in Cummins during the 1st quarter worth approximately $115,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Cummins by 5,873.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 896 shares of the company’s stock worth $119,000 after purchasing an additional 881 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in Cummins during the 1st quarter worth approximately $146,000. Finally, Signaturefd LLC bought a new stake in Cummins during the 1st quarter worth approximately $159,000. Institutional investors and hedge funds own 79.25% of the company’s stock.

In other news, Director Alexis M. Herman sold 735 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $139.90, for a total value of $102,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Tracy A. Embree sold 462 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $141.70, for a total value of $65,465.40. Following the sale, the vice president now directly owns 4,122 shares of the company’s stock, valued at approximately $584,087.40. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $156.00 target price on Cummins and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday, September 3rd. JPMorgan Chase & Co. cut shares of Cummins from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $156.00 to $137.00 in a research note on Friday, August 24th. Bank of America raised their price target on shares of Cummins from $154.00 to $157.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Finally, Credit Suisse Group decreased their price target on shares of Cummins from $175.00 to $171.00 and set an “outperform” rating for the company in a research note on Wednesday, August 1st. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $165.10.

NYSE CMI opened at $142.07 on Thursday. The company has a market capitalization of $23.57 billion, a PE ratio of 10.85, a P/E/G ratio of 0.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.61 and a quick ratio of 1.03. Cummins Inc. has a 12 month low of $129.90 and a 12 month high of $194.18.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, July 31st. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.31). The company had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.81 billion. Cummins had a net margin of 4.67% and a return on equity of 26.30%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.53 EPS. sell-side analysts forecast that Cummins Inc. will post 14.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 22nd were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Tuesday, August 21st. This is an increase from Cummins’s previous quarterly dividend of $1.08. Cummins’s dividend payout ratio is presently 42.94%.

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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