Cummins Inc. (NYSE:CMI) Stock Position Increased by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its position in shares of Cummins Inc. (NYSE:CMI) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,627 shares of the company’s stock after buying an additional 190 shares during the quarter. Benjamin Edwards Inc.’s holdings in Cummins were worth $1,108,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of Cummins by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 73,439 shares of the company’s stock valued at $16,778,000 after acquiring an additional 2,377 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Cummins by 4.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,204 shares of the company’s stock worth $7,586,000 after purchasing an additional 1,501 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in Cummins by 30.8% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 263 shares of the company’s stock worth $60,000 after purchasing an additional 62 shares in the last quarter. Raymond James & Associates lifted its stake in Cummins by 4.3% during the third quarter. Raymond James & Associates now owns 257,730 shares of the company’s stock valued at $58,881,000 after buying an additional 10,529 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cummins by 7.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,868 shares of the company’s stock worth $36,295,000 after buying an additional 10,848 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cummins

In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the sale, the chief executive officer now owns 2,698 shares of the company’s stock, valued at $720,123.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Rumsey sold 739 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,289 shares of company stock valued at $13,576,838. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.2 %

NYSE CMI traded up $0.45 during trading on Friday, reaching $280.74. The company’s stock had a trading volume of 975,578 shares, compared to its average volume of 2,596,640. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $38.39 billion, a PE ratio of 54.20, a PEG ratio of 1.93 and a beta of 1.04. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The business has a 50-day moving average price of $285.06 and a 200-day moving average price of $252.19.

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). The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.52 EPS. On average, research analysts forecast that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is 129.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMI shares. TD Cowen boosted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Robert W. Baird lowered their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley initiated coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Finally, Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $282.55.

Cummins Company 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.