Oak Thistle LLC Purchases New Holdings in Cummins Inc. (NYSE:CMI)

Oak Thistle LLC acquired a new position in Cummins Inc. (NYSE:CMIFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,134 shares of the company’s stock, valued at approximately $990,000.

A number of other institutional investors have also recently bought and sold shares of the business. Synovus Financial Corp grew its holdings in Cummins by 254.4% during the first quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock valued at $1,242,000 after purchasing an additional 4,378 shares during the period. Cibc World Market Inc. grew its position in shares of Cummins by 65.4% during the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after purchasing an additional 7,191 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Cummins by 16.1% in the first quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock worth $19,282,000 after purchasing an additional 13,058 shares during the period. Prudential PLC bought a new stake in Cummins during the first quarter valued at $711,000. Finally, Cetera Investment Advisers grew its position in Cummins by 43.0% during the first quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock worth $1,313,000 after buying an additional 1,925 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.0 %

Shares of CMI stock traded up $0.07 during mid-day trading on Tuesday, reaching $294.60. The stock had a trading volume of 377,167 shares, compared to its average volume of 3,172,942. 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’s 50-day moving average price is $264.08 and its two-hundred day moving average price is $241.77. The firm has a market capitalization of $41.79 billion, a PE ratio of 56.86, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $297.11.

Cummins (NYSE:CMIGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share 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 business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business posted $4.52 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 18.36 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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 was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. Cummins’s dividend payout ratio is 129.73%.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Morgan Stanley assumed coverage on shares of Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price for the company. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, TD Cowen raised their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and an average price target of $271.64.

Check Out Our Latest Stock Analysis on CMI

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 completion of the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel William Fisher acquired 562 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was acquired 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 of the company’s stock, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 over the last 90 days. 1.05% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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