S&T Bank PA raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,699 shares of the company’s stock after purchasing an additional 744 shares during the period. Cummins accounts for approximately 2.0% of S&T Bank PA’s holdings, making the stock its 13th biggest holding. S&T Bank PA’s holdings in Cummins were worth $9,029,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC raised its position in shares of Cummins by 102.8% in the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after acquiring an additional 74 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Cummins in the 2nd quarter valued at approximately $26,000. Sonora Investment Management LLC acquired a new stake in shares of Cummins in the 2nd quarter valued at approximately $32,000. Lenox Wealth Advisors LLC acquired a new stake in shares of Cummins in the 2nd quarter valued at approximately $33,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Cummins in the 1st quarter valued at approximately $32,000. Institutional investors own 82.34% of the company’s stock.

A number of analysts recently weighed in on CMI shares. Loop Capital downgraded shares of Cummins from a “hold” rating to a “sell” rating and cut their price target for the company from $168.00 to $145.00 in a research report on Tuesday, July 2nd. ValuEngine downgraded shares of Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Evercore ISI reiterated an “in-line” rating and issued a $169.00 price target (up from $163.00) on shares of Cummins in a research report on Friday, May 31st. Wells Fargo & Co cut their price target on shares of 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, Credit Suisse Group increased their target price on Cummins from $198.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $166.67.

NYSE CMI traded down $0.44 during trading hours on Thursday, reaching $165.05. 984,530 shares of the company’s stock were exchanged, compared to its average volume of 1,272,398. The company’s 50-day moving average is $154.27 and its two-hundred day moving average is $160.72. Cummins Inc. has a one year low of $124.40 and a one year high of $175.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.66. The company has a market capitalization of $25.38 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the previous year, the company posted $4.14 earnings per share. Cummins’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 15.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.311 per share. This is a boost from Cummins’s previous quarterly dividend of $1.14. This represents a $5.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Tuesday, August 20th. Cummins’s dividend payout ratio (DPR) is currently 39.61%.

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.

Featured Story: Why do corrections happen?

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.