Community Bank N.A. Sells 2,086 Shares of Cummins Inc. (NYSE:CMI)

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Community Bank N.A. lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 12.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,114 shares of the company’s stock after selling 2,086 shares during the quarter. Community Bank N.A.’s holdings in Cummins were worth $2,618,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Moody Aldrich Partners LLC bought a new position in Cummins during the second quarter worth about $784,000. State of Michigan Retirement System lifted its holdings in shares of Cummins by 7.2% in the second quarter. State of Michigan Retirement System now owns 37,684 shares of the company’s stock worth $6,529,000 after buying an additional 2,520 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Cummins in the second quarter worth about $2,116,000. Everett Harris & Co. CA purchased a new stake in shares of Cummins in the second quarter worth about $502,000. Finally, Eukles Asset Management lifted its holdings in shares of Cummins by 11.7% in the second quarter. Eukles Asset Management now owns 9,167 shares of the company’s stock worth $1,588,000 after buying an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

Shares of CMI stock traded down $1.22 during trading hours on Friday, hitting $193.26. 994,753 shares of the company’s stock were exchanged, compared to its average volume of 1,072,412. The company has a market capitalization of $28.51 billion, a PE ratio of 17.24, a PEG ratio of 3.41 and a beta of 1.14. Cummins Inc. has a 12-month low of $101.03 and a 12-month high of $204.98. The business’s 50 day simple moving average is $176.98 and its 200-day simple moving average is $160.75. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $0.93 by $0.93. Cummins had a net margin of 8.46% and a return on equity of 21.04%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the firm posted $4.27 earnings per share. The business’s revenue was down 38.1% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 8.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a $1.311 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, August 20th. Cummins’s dividend payout ratio is 34.82%.

CMI has been the topic of a number of recent analyst reports. Deutsche Bank initiated coverage on shares of Cummins in a report on Tuesday, June 30th. They issued a “hold” rating and a $172.00 price target on the stock. Oppenheimer initiated coverage on shares of Cummins in a research note on Tuesday. They issued a “hold” rating on the stock. UBS Group raised their target price on shares of Cummins from $167.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. TheStreet raised shares of Cummins from a “c+” rating to a “b” rating in a research note on Friday, May 1st. Finally, Cowen reaffirmed a “hold” rating and issued a $171.00 target price on shares of Cummins in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $185.71.

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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