Lakeview Capital Partners LLC increased its position in Cummins Inc. (NYSE:CMI) by 42.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,285 shares of the company’s stock after buying an additional 683 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Cummins were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. raised its position in Cummins by 41.7% in the first quarter. American Century Companies Inc. now owns 3,555,700 shares of the company’s stock valued at $561,338,000 after purchasing an additional 1,046,677 shares during the period. First Trust Advisors LP raised its position in Cummins by 165.9% in the first quarter. First Trust Advisors LP now owns 614,285 shares of the company’s stock valued at $96,977,000 after purchasing an additional 383,230 shares during the period. Dimensional Fund Advisors LP raised its position in Cummins by 37.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,289,666 shares of the company’s stock valued at $172,338,000 after purchasing an additional 350,979 shares during the period. Beutel Goodman & Co Ltd. raised its position in Cummins by 53.6% in the first quarter. Beutel Goodman & Co Ltd. now owns 702,839 shares of the company’s stock valued at $83,029,000 after purchasing an additional 245,166 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Cummins by 23.8% in the first quarter. JPMorgan Chase & Co. now owns 1,114,699 shares of the company’s stock valued at $175,978,000 after purchasing an additional 214,295 shares during the period. 81.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cummins stock traded up $1.94 during trading hours on Wednesday, hitting $148.15. 271,715 shares of the company’s stock traded hands, compared to its average volume of 1,397,397. The stock has a 50 day simple moving average of $163.08 and a 200-day simple moving average of $160.84. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. The company has a market cap of $23.51 billion, a PE ratio of 11.20, a PEG ratio of 1.18 and a beta of 1.14. Cummins Inc. has a twelve month low of $124.40 and a twelve month high of $175.91.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the consensus estimate of $4.38 by ($0.11). The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.36 billion. Cummins had a net margin of 10.74% and a return on equity of 29.75%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.14 earnings per share. As a group, equities research analysts predict that Cummins Inc. will post 15.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be paid a dividend of $1.311 per share. The ex-dividend date is Tuesday, August 20th. This is an increase from Cummins’s previous quarterly dividend of $1.14. This represents a $5.24 annualized dividend and a dividend yield of 3.54%. Cummins’s dividend payout ratio (DPR) is currently 34.47%.

CMI has been the topic of several research reports. Evercore ISI reissued an “in-line” rating and issued a $169.00 price objective (up from $163.00) on shares of Cummins in a research report on Friday, May 31st. Stifel Nicolaus raised their price objective on Cummins from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Standpoint Research lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. UBS Group raised their price objective on Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research report on Wednesday, May 1st. Finally, ValuEngine lowered Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price 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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