Aberdeen Asset Management PLC UK reduced its position in Cummins Inc. (NYSE:CMI) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,366 shares of the company’s stock after selling 687 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Cummins were worth $12,000,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the company. FMR LLC raised its position in shares of Cummins by 15.1% in the fourth quarter. FMR LLC now owns 1,204,918 shares of the company’s stock worth $164,677,000 after buying an additional 158,318 shares during the period. Glenview Trust Co purchased a new position in shares of Cummins during the fourth quarter worth about $506,000. Teza Capital Management LLC purchased a new position in shares of Cummins during the fourth quarter worth about $292,000. Investec Asset Management North America Inc. raised its position in shares of Cummins by 5.1% in the fourth quarter. Investec Asset Management North America Inc. now owns 78,593 shares of the company’s stock worth $10,741,000 after buying an additional 3,794 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of Cummins by 3.9% in the fourth quarter. Private Advisor Group LLC now owns 7,247 shares of the company’s stock worth $1,020,000 after buying an additional 272 shares during the period. Institutional investors own 81.14% of the company’s stock.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Shares of Cummins Inc. (NYSE CMI) opened at 161.56 on Friday. The firm has a market capitalization of $27.03 billion, a PE ratio of 18.52 and a beta of 1.06. The stock’s 50 day moving average price is $157.11 and its 200-day moving average price is $149.05. Cummins Inc. has a 52-week low of $105.33 and a 52-week high of $163.36.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.55. The firm had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Cummins had a net margin of 8.25% and a return on equity of 20.87%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 earnings per share. Equities research analysts anticipate that Cummins Inc. will post $7.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 19th were issued a dividend of $1.025 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $4.10 annualized dividend and a yield of 2.54%. Cummins’s dividend payout ratio is currently 46.96%.

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CMI has been the topic of several analyst reports. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $155.00 price target (up from $150.00) on shares of Cummins in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $160.00 price target (up from $150.00) on shares of Cummins in a research report on Tuesday, May 2nd. Deutsche Bank AG reaffirmed a “sell” rating and set a $154.00 price target (up from $142.00) on shares of Cummins in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $166.00 price target on shares of Cummins in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $151.40.

In related news, insider Tony Satterthwaite sold 4,000 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $151.03, for a total transaction of $604,120.00. Following the completion of the transaction, the insider now directly owns 41,902 shares of the company’s stock, valued at $6,328,459.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anant Talaulicar sold 1,650 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $157.50, for a total transaction of $259,875.00. Following the transaction, the vice president now directly owns 13,029 shares of the company’s stock, valued at $2,052,067.50. The disclosure for this sale can be found here. Insiders have sold 38,576 shares of company stock valued at $6,218,448 over the last three months. 0.62% of the stock is currently owned by corporate insiders.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

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