CHURCHILL MANAGEMENT Corp Purchases 4,680 Shares of Cummins Inc. (NYSE:CMI)

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CHURCHILL MANAGEMENT Corp grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 36.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,437 shares of the company’s stock after purchasing an additional 4,680 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Cummins were worth $2,988,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CMI. LSV Asset Management grew its position in shares of Cummins by 1.7% during the first quarter. LSV Asset Management now owns 3,737,105 shares of the company’s stock worth $589,976,000 after acquiring an additional 62,642 shares during the last quarter. American Century Companies Inc. grew its position in shares of Cummins by 41.7% during the first quarter. American Century Companies Inc. now owns 3,555,700 shares of the company’s stock worth $561,338,000 after acquiring an additional 1,046,677 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cummins by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,495,807 shares of the company’s stock worth $333,085,000 after acquiring an additional 97,017 shares during the last quarter. Ronna Sue Cohen grew its position in shares of Cummins by 16,590.4% during the first quarter. Ronna Sue Cohen now owns 2,152,730 shares of the company’s stock worth $2,153,000 after acquiring an additional 2,139,832 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Cummins by 3.4% during the first quarter. Wells Fargo & Company MN now owns 1,957,135 shares of the company’s stock worth $308,972,000 after acquiring an additional 64,883 shares during the last quarter. 81.51% of the stock is currently owned by institutional investors.

NYSE:CMI opened at $146.03 on Friday. Cummins Inc. has a twelve month low of $124.40 and a twelve month high of $175.91. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $165.23 and a 200-day moving average of $161.07. The firm has a market cap of $22.77 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $4.27 EPS for the quarter, missing analysts’ consensus estimates of $4.38 by ($0.11). Cummins had a net margin of 10.74% and a return on equity of 29.75%. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.36 billion. During the same period in the prior year, the company posted $4.14 earnings per share. Cummins’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Cummins Inc. will post 15.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.311 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This is a positive change from Cummins’s previous quarterly dividend of $1.14. This represents a $5.24 dividend on an annualized basis and a yield of 3.59%. Cummins’s dividend payout ratio is currently 34.47%.

A number of equities analysts recently issued reports on CMI shares. Stifel Nicolaus increased their target price on shares of Cummins from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their target price on shares of Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research report on Wednesday, May 1st. Morgan Stanley decreased their target price on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Standpoint Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, Loop Capital lowered shares of Cummins from a “hold” rating to a “sell” rating and decreased their target price for the company from $168.00 to $145.00 in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $166.67.

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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