WBH Advisory Inc. Decreases Stake in Cummins Inc. (NYSE:CMI)

WBH Advisory Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,591 shares of the company’s stock after selling 62 shares during the period. WBH Advisory Inc.’s holdings in Cummins were worth $2,106,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Cummins by 1.6% in the first quarter. Principal Financial Group Inc. now owns 670,084 shares of the company’s stock worth $160,070,000 after purchasing an additional 10,562 shares during the last quarter. Dfpg Investments LLC lifted its position in shares of Cummins by 162.2% in the 1st quarter. Dfpg Investments LLC now owns 5,089 shares of the company’s stock worth $1,216,000 after purchasing an additional 3,148 shares during the period. Empirical Finance LLC increased its position in shares of Cummins by 4.6% during the first quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock valued at $954,000 after buying an additional 176 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Cummins by 33.5% in the first quarter. Ronald Blue Trust Inc. now owns 1,980 shares of the company’s stock worth $479,000 after buying an additional 497 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Cummins by 0.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 28,703 shares of the company’s stock valued at $6,954,000 after purchasing an additional 249 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

Cummins stock traded down $3.16 during trading on Tuesday, reaching $235.18. The company had a trading volume of 126,609 shares, compared to its average volume of 963,413. The firm’s 50-day simple moving average is $243.08 and its 200 day simple moving average is $234.73. The firm has a market capitalization of $33.31 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. The company has a current ratio of 1.40, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cummins Inc. has a 52 week low of $200.40 and a 52 week high of $265.28.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $5.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.19 by ($0.01). The firm had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Cummins had a return on equity of 25.46% and a net margin of 7.89%. The business’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the company earned $4.77 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 19.91 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Friday, August 25th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $6.72 annualized dividend and a dividend yield of 2.86%. This is a boost from Cummins’s previous quarterly dividend of $1.57. Cummins’s dividend payout ratio (DPR) is currently 37.65%.

Analyst Ratings Changes

A number of research analysts have issued reports on CMI shares. Citigroup lifted their price objective on Cummins from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. 888 reiterated a “maintains” rating on shares of Cummins in a research note on Wednesday, May 31st. The Goldman Sachs Group boosted their price objective on shares of Cummins from $241.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. StockNews.com began coverage on Cummins in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Credit Suisse Group reduced their price objective on Cummins from $290.00 to $288.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $266.17.

Cummins Company 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 New Power. 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 new parts and services, as well as remanufactured parts and engines.