Coastline Trust Co Holds Holdings in Cummins Inc. (CMI)

Coastline Trust Co maintained its stake in Cummins Inc. (NYSE:CMI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,610 shares of the company’s stock at the end of the 2nd quarter. Coastline Trust Co’s holdings in Cummins were worth $910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Johanson Financial Advisors Inc. grew its holdings in Cummins by 0.4% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 1,843 shares of the company’s stock valued at $303,000 after buying an additional 7 shares in the last quarter. Good Life Advisors LLC grew its holdings in Cummins by 0.6% during the 2nd quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock valued at $243,000 after buying an additional 9 shares in the last quarter. Northwest Quadrant Wealth Management LLC grew its holdings in Cummins by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock valued at $360,000 after buying an additional 11 shares in the last quarter. Bessemer Group Inc. grew its holdings in Cummins by 1.1% during the 2nd quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock valued at $187,000 after buying an additional 12 shares in the last quarter. Finally, Alambic Investment Management L.P. grew its holdings in Cummins by 0.7% during the 1st quarter. Alambic Investment Management L.P. now owns 2,416 shares of the company’s stock valued at $365,000 after buying an additional 16 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

In other Cummins news, COO Richard Joseph Freeland sold 22,550 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $165.00, for a total value of $3,720,750.00. Following the completion of the sale, the chief operating officer now directly owns 14,131 shares in the company, valued at approximately $2,331,615. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Pat Ward sold 14,050 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $163.95, for a total value of $2,303,497.50. Following the completion of the sale, the chief financial officer now owns 13,395 shares of the company’s stock, valued at $2,196,110.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,233 shares of company stock valued at $9,624,355. 0.62% of the stock is owned by company insiders.

Cummins Inc. (NYSE CMI) opened at 165.105 on Tuesday. Cummins Inc. has a 1-year low of $116.87 and a 1-year high of $170.68. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 18.662 and a beta of 1.10. The firm’s 50-day moving average is $158.29 and its 200 day moving average is $156.27.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.05. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 earnings per share. Equities analysts anticipate that Cummins Inc. will post $7.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $1.08 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.03. This represents a $4.32 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 16th. Cummins’s dividend payout ratio is presently 48.76%.

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A number of equities research analysts have issued reports on the stock. Deutsche Bank AG increased their price objective on shares of Cummins from $139.00 to $142.00 and gave the company a “sell” rating in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price objective on shares of Cummins in a report on Thursday, September 7th. ValuEngine lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Cummins from a “conviction-buy” rating to a “buy” rating and set a $192.00 price objective for the company. in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $160.58.

About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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