Beese Fulmer Investment Management Inc. Has $5.76 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Beese Fulmer Investment Management Inc. cut its holdings in Cummins Inc. (NYSE:CMI) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,594 shares of the company’s stock after selling 697 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Cummins were worth $5,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank boosted its position in Cummins by 1.1% during the 1st quarter. Swiss National Bank now owns 509,719 shares of the company’s stock worth $80,469,000 after acquiring an additional 5,300 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Cummins in the 1st quarter valued at approximately $87,000. KG&L Capital Management LLC raised its stake in Cummins by 1.5% in the 1st quarter. KG&L Capital Management LLC now owns 7,186 shares of the company’s stock valued at $1,135,000 after acquiring an additional 104 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Cummins in the 1st quarter valued at $728,000. Finally, Fundamentun LLC bought a new stake in Cummins in the 1st quarter valued at $370,000. Institutional investors and hedge funds own 81.06% of the company’s stock.

CMI stock traded up $2.64 during trading hours on Tuesday, hitting $173.37. 1,077,383 shares of the stock were exchanged, compared to its average volume of 1,247,374. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.57 and a quick ratio of 0.96. The firm has a market cap of $27.04 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.33 and a beta of 1.17. The firm has a 50-day moving average price of $167.73. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $175.18.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.69. Cummins had a return on equity of 30.72% and a net margin of 10.24%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter last year, the business earned $3.30 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 16.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st will be given a $1.311 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Cummins’s previous quarterly dividend of $1.14. Cummins’s dividend payout ratio (DPR) is presently 34.47%.

CMI has been the topic of a number of research analyst reports. Credit Suisse Group restated an “outperform” rating and issued a GBX 2,012 ($26.29) price target on shares of Aston Martin Lagonda Global in a research note on Wednesday, May 1st. Piper Jaffray Companies set a $195.00 price target on Cummins and gave the company a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research cut Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group cut Advanced Disposal Services from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Stifel Nicolaus increased their price target on Zendesk from $75.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $165.73.

Cummins Company 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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