City State Bank Sells 626 Shares of Cummins Inc. (NYSE:CMI)

City State Bank trimmed its stake in Cummins Inc. (NYSE:CMIFree Report) by 35.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,127 shares of the company’s stock after selling 626 shares during the quarter. City State Bank’s holdings in Cummins were worth $270,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. KB Financial Partners LLC grew its stake in Cummins by 1.3% during the third 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. Spears Abacus Advisors LLC grew its position in shares of Cummins by 5.1% during the 1st quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after purchasing an additional 48 shares in the last quarter. Columbia Trust Co 01012016 grew 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 buying an additional 48 shares in the last quarter. MUFG Americas Holdings Corp grew its position in Cummins by 3.5% during the third quarter. MUFG Americas Holdings Corp now owns 1,462 shares of the company’s stock worth $298,000 after buying an additional 50 shares in the last quarter. Finally, Peloton Wealth Strategists grew its position in Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock worth $3,227,000 after buying an additional 50 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,100 shares of the firm’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 transaction, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 1.05% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $286.12 on Tuesday. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $287.94. 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 firm has a 50-day moving average of $254.23 and a 200-day moving average of $238.23. The firm has a market cap of $40.59 billion, a P/E ratio of 55.24, a P/E/G ratio of 1.86 and a beta of 1.03.

Cummins (NYSE:CMIGet Free Report) last announced its quarterly earnings results 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 analysts’ expectations of $8.10 billion. During the same period in the previous year, the business earned $4.52 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts expect that Cummins Inc. will post 18.37 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders 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 annualized dividend and a dividend yield of 2.35%. Cummins’s dividend payout ratio is 129.73%.

Analyst Ratings Changes

Several research firms recently weighed in on CMI. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $254.00 to $321.00 in a research report on Friday. Evercore ISI raised their price target on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. TD Cowen upped their price objective on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. cut their price objective on Cummins from $255.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, January 18th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $268.91.

Read Our Latest Stock Report on CMI

Cummins Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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