Applied Finance Capital Management LLC Has $19.91 Million Stock Holdings in Cummins Inc. $CMI

Applied Finance Capital Management LLC boosted its stake in Cummins Inc. (NYSE:CMI) by 14.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 60,797 shares of the company’s stock after buying an additional 7,656 shares during the period. Applied Finance Capital Management LLC’s holdings in Cummins were worth $19,910,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Sage Private Wealth Group LLC bought a new stake in shares of Cummins during the second quarter worth approximately $273,000. Allianz Asset Management GmbH lifted its holdings in Cummins by 23.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 837,694 shares of the company’s stock worth $274,345,000 after purchasing an additional 158,304 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in Cummins by 101.7% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 488 shares of the company’s stock valued at $160,000 after purchasing an additional 246 shares during the period. Mutual Advisors LLC grew its holdings in Cummins by 2.4% in the 2nd quarter. Mutual Advisors LLC now owns 2,669 shares of the company’s stock valued at $874,000 after buying an additional 63 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in Cummins by 2.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,871 shares of the company’s stock valued at $613,000 after buying an additional 45 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CMI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research report on Tuesday. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a research report on Monday, August 11th. Barclays lifted their price target on shares of Cummins from $381.00 to $387.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Finally, Evercore ISI reissued an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and a consensus price target of $407.43.

Cummins Stock Performance

Shares of Cummins stock opened at $422.34 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. The company has a market cap of $58.19 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. The company has a 50 day moving average of $410.61 and a 200-day moving average of $352.08. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $440.51.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business had revenue of $8.64 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period last year, the firm posted $5.26 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.9%. Cummins’s payout ratio is 37.61%.

Insider Buying and Selling at Cummins

In related news, VP Robert Enright sold 1,860 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the sale, the vice president directly owned 955 shares of the company’s stock, valued at $384,158.30. This trade represents a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $402.88, for a total value of $2,015,205.76. Following the completion of the transaction, the vice president owned 20,738 shares in the company, valued at approximately $8,354,925.44. This represents a 19.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,119 shares of company stock worth $17,674,285 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.