Cummins Inc. (NYSE:CMI) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,648 shares of the company’s stock after buying an additional 145 shares during the period. Parkside Financial Bank & Trust’s holdings in Cummins were worth $395,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Cummins in the third quarter valued at $25,000. Silver Oak Securities Incorporated purchased a new position in Cummins in the third quarter valued at $28,000. Global Wealth Strategies & Associates purchased a new position in Cummins in the third quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Cummins in the third quarter valued at about $39,000. Finally, Peoples Bank KS acquired a new stake in shares of Cummins in the third quarter valued at about $43,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Evercore ISI boosted their price target on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $279.70.

Insiders Place Their Bets

In related news, Director Daniel William Fisher acquired 562 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the acquisition, the director now owns 1,068 shares in the company, valued at $284,696.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by corporate insiders.

Cummins Trading Down 0.4 %

CMI stock traded down $1.03 during midday trading on Wednesday, reaching $291.67. 116,819 shares of the company’s stock traded hands, compared to its average volume of 2,732,214. The company has a market capitalization of $39.89 billion, a P/E ratio of 56.66, a PEG ratio of 1.97 and a beta of 1.04. The business has a 50-day moving average price of $281.69 and a two-hundred day moving average price of $249.59. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the prior year, the firm earned $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 18.34 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.