YHB Investment Advisors Inc. Grows Holdings in Cummins Inc. (NYSE:CMI)

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YHB Investment Advisors Inc. raised its position in Cummins Inc. (NYSE:CMI) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,056 shares of the company’s stock after purchasing an additional 688 shares during the period. YHB Investment Advisors Inc.’s holdings in Cummins were worth $2,612,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMI. Gradient Investments LLC lifted its stake in Cummins by 102.8% in the second quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Cummins in the second quarter valued at $26,000. Kempen Capital Management N.V. bought a new stake in Cummins in the second quarter valued at $29,000. Meridian Wealth Management LLC bought a new stake in shares of Cummins during the first quarter valued at about $32,000. Finally, Sonora Investment Management LLC bought a new stake in shares of Cummins during the second quarter valued at about $32,000. Institutional investors own 82.34% of the company’s stock.

Shares of CMI opened at $163.06 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.18. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $175.91. The firm has a market capitalization of $25.68 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. The stock’s fifty day simple moving average is $157.27 and its 200-day simple moving average is $161.44.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $6.36 billion. During the same period last year, the company earned $4.14 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 15.84 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a dividend of $1.311 per share. This represents a $5.24 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 13th. Cummins’s dividend payout ratio (DPR) is presently 39.61%.

A number of equities research analysts recently weighed in on the stock. Loop Capital cut shares of Cummins from a “hold” rating to a “sell” rating and cut their price objective for the company from $168.00 to $145.00 in a research note on Tuesday, July 2nd. Morgan Stanley lowered their target price on Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Standpoint Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Credit Suisse Group lifted their price target on Cummins from $198.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, ValuEngine cut Cummins from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $167.09.

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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