Cummins Inc. (CMI) Position Cut from Chevy Chase Trust Holdings Inc.



Chevy Chase Trust Holdings Inc. reduced its shareholdings of Cummins Inc. (NYSE: CMI) by 1.0% in the second quarter, according to the most recent disclosure at the SEC. The company owned 130,307 shares of the company's shares after the sale of 1,330 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Cummins worth $ 17,331,000 from the most recent filings with the SEC.

A number of other institutional investors have also bought and sold shares of the shares. IndexIQ Advisors LLC increased the interest in Cummins by 49.7% in the second quarter. IndexIQ Advisors LLC now holds 40,927 shares of the company's shares worth $ 5,443,000 after purchasing additional 13,581 shares during the period. NuWave Investment Management LLC acquired a new Cummins position in the second quarter of approximately $ 183,000. Wagner Wealth Management LLC increased its shareholdings in Cummins by 230.0% in the second quarter. Wagner Wealth Management LLC now owns 1,650 shares of the company's shares valued at $ 219,000 after the purchase of 1,150 additional shares during the period. MUFG Securities EMEA plc grew its participations in Cummins by 43.7% in the second quarter. MUFG Securities EMEA plc now holds 53,173 shares of the company's shares worth $ 7,072,000 after the purchase of 16,173 additional shares during the period. Finally, Synovus Financial Corp expanded its holdings in Cummins by 58.6% in the second quarter. Synovus Financial Corp now owns 6,391 shares of the company's shares worth $ 846,000 after the purchase of 2,362 shares during the period. Institutional investors and hedge funds hold 79.42% of the company's shares.

NYSE CMI shares exchanged $ 0.24 during mid-day trading and reached $ 141.80. The company's shares had a trading volume of 1,285,860 shares, compared to the average volume of 1,225,737. The company has a current ratio of 1.61, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. Cummins Inc. has a low point in the fifty-two weeks of $ 129.90 and a height of fifty-two weeks of $ 194.18. The company has a market capitalization of $ 23.71 billion, a price-earnings ratio of 13.35, a PEG ratio of 0.83 and a beta of 1.11.

Cummins (NYSE: CMI) last published its quarterly results on Tuesday 31 July. The company reported $ 3.32 per share for the quarter, with analyst consensus estimates of $ 3.63 with ($ 0.31) being missed. Cummins had a net margin of 4.67% and a return on equity of 26.30%. The company posted sales of $ 6.13 billion in the quarter compared with analyst estimates of $ 5.81 billion. During the same quarter of the previous year, the company recorded $ 2.53 earnings per share. The company's quarterly turnover increased by 20.8% on an annual basis. stock research analysts predict that Cummins Inc. 14.94 per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4. Shareholders on Wednesday, August 22, will receive a dividend of $ 1.14. This represents a dividend of $ 4.56 on an annual basis and a dividend yield of 3.22%. This is an increase compared to the previous quarterly dividend from Cummins of $ 1.08. The ex-dividend date is Tuesday 21 August. The payout ratio of Cummins is currently 42.94%.

In other Cummins news, VP Tracy A. Embree sold 462 shares of the company stock in a transaction on Monday 6 August. The shares were sold at an average price of $ 141.70 for a total transaction of $ 65,465.40. After the sale, the vice-president now holds 4,122 shares of the company's shares, valued at $ 584,087.40. The transaction was disclosed in a legal application to the SEC, which is accessible via this link. Director Alexis M. Herman also sold 735 shares of the company in a transaction on Friday 3 August. The stock was sold at an average price of $ 139.90 for a total transaction of $ 102,826.50. The information for this sale can be found here. Business mixers hold 0.62% of the company's shares.

A number of equity analysts have recently commented on CMI shares. Citigroup lowered its price target for Cummins from $ 175.00 to $ 160.00 and posted a "neutral" rating for the company on Friday, May 4 in a report. Morgan Stanley set a target price of $ 165.00 on Cummins and gave the shares a & # 39; hold & # 39; credit rating in a report on Monday, May 7. Argus lowered its price target on Cummins to $ 175.00 and set a "buy" rating for the company on Friday, May 11th. They noted that the move was a valuation call. ValuEngine reduced Cummins' shares from a "sell" rating to a "strong sell" rating in a research report on Wednesday, June 13. Finally, Standpoint Research has the Cummins shares from a & # 39; hold & # 39; credit to a & # 39; buy & # 39; credit rating upgraded in a research report on Monday 18 June. Four investment analysts have rated the shares with a sell rating, sixteen have a hold rating and six have assigned a buy-rating to the shares. Cummins currently has an average rating of "Hold" and an average target price of $ 165.86.

Cummins Company profile

Cummins Inc designs, manufactures, distributes and maintains diesel and natural gas engines and engine-related component products worldwide. It works in four segments: Motor, Distribution, Components and Power Systems segments. The motor segment produces and sells a range of diesel and natural gas engines under the Cummins and other customer brands for heavy and medium-heavy trucks, buses, recreational vehicles, light automotive structures, construction, mining, shipping, railways, oil and gas markets, defense and agriculture.

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Institutional property per quarter for Cummins (NYSE: CMI)



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