Cummins Inc. (NYSE:CMI) Shares Purchased by Investment House LLC

Investment House LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,420 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Investment House LLC’s holdings in Cummins were worth $5,850,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Balentine LLC lifted its stake in shares of Cummins by 3.3% during the third quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after purchasing an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Cummins by 200.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,866 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in shares of Cummins during the third quarter worth about $9,048,000. Capital Advisors Inc. OK purchased a new stake in shares of Cummins during the fourth quarter worth about $24,915,000. Finally, SG Americas Securities LLC increased its position in shares of Cummins by 227.6% during the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after acquiring an additional 16,869 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI traded up $2.17 during midday trading on Monday, hitting $293.31. 248,129 shares of the company’s stock were exchanged, compared to its average volume of 2,658,408. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The stock’s 50 day moving average price is $283.34 and its 200-day moving average price is $250.92. The firm has a market cap of $40.11 billion, a P/E ratio of 56.44, a PEG ratio of 1.98 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24.

Cummins (NYSE:CMI) last issued 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). The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.52 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 18.34 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.29%. Cummins’s dividend payout ratio (DPR) is 129.73%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were 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 approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock worth $13,576,838 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMI. TD Cowen lifted their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group lifted their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Morgan Stanley started coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Finally, StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has a consensus 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.