Eukles Asset Management Has $2.67 Million Holdings in Cummins Inc. (NYSE:CMI)

Eukles Asset Management lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,127 shares of the company’s stock after selling 63 shares during the period. Cummins comprises 1.3% of Eukles Asset Management’s investment portfolio, making the stock its 28th largest holding. Eukles Asset Management’s holdings in Cummins were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bison Wealth LLC raised its holdings in Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after buying an additional 42 shares during the period. KB Financial Partners LLC grew its stake in Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after acquiring an additional 45 shares in the last quarter. Edmp Inc. grew its stake in shares of Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after buying an additional 46 shares in the last quarter. Columbia Trust Co 01012016 boosted its position in Cummins by 1.2% during the third quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock worth $949,000 after purchasing an additional 48 shares during the period. Finally, Ledge Wealth Management Inc. boosted its position in Cummins by 0.5% during the fourth quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock traded down $3.77 during mid-day trading on Friday, hitting $287.65. 628,216 shares of the company were exchanged, compared to its average volume of 2,788,978. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $279.54 and a 200 day moving average of $247.93. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a market capitalization of $39.34 billion, a PE ratio of 56.07, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts expect that Cummins Inc. will post 18.24 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is presently 129.73%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the completion of the transaction, the chief executive officer now owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMI. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and upped their target price for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Truist Financial began coverage on Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 target price for the company. Citigroup upped their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group upped their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $279.70.

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.