Cummins Inc. (CMI) Shares Bought by Stephens Inc. AR
Stephens Inc. AR grew its position in Cummins Inc. (NYSE:CMI) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,884 shares of the company’s stock after acquiring an additional 223 shares during the period. Stephens Inc. AR’s holdings in Cummins were worth $630,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of CMI. DekaBank Deutsche Girozentrale raised its stake in shares of Cummins by 27.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 45,408 shares of the company’s stock valued at $6,958,000 after acquiring an additional 9,713 shares during the last quarter. Community Bank N.A. raised its stake in shares of Cummins by 0.3% in the first quarter. Community Bank N.A. now owns 12,359 shares of the company’s stock valued at $1,869,000 after acquiring an additional 35 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Cummins by 65.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 17,797 shares of the company’s stock valued at $2,691,000 after acquiring an additional 7,062 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cummins by 39.0% in the first quarter. Bank of New York Mellon Corp now owns 2,006,014 shares of the company’s stock valued at $303,309,000 after acquiring an additional 563,279 shares during the last quarter. Finally, Comerica Bank raised its stake in shares of Cummins by 0.5% in the first quarter. Comerica Bank now owns 51,234 shares of the company’s stock valued at $7,739,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 80.38% of the company’s stock.
Several research analysts recently weighed in on CMI shares. Deutsche Bank AG boosted their price objective on shares of Cummins from $139.00 to $142.00 and gave the stock a “sell” rating in a research report on Tuesday, July 4th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC restated a “hold” rating and issued a $165.00 price objective on shares of Cummins in a research report on Thursday, September 7th. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $159.00 price objective on shares of Cummins in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Cummins has a consensus rating of “Hold” and a consensus target price of $161.15.
In other Cummins news, insider Tony Satterthwaite sold 4,000 shares of Cummins stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $164.50, for a total value of $658,000.00. Following the completion of the sale, the insider now directly owns 41,902 shares of the company’s stock, valued at $6,892,879. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total transaction of $260,087.91. Following the completion of the sale, the director now directly owns 5,814 shares of the company’s stock, valued at $925,995.78. The disclosure for this sale can be found here. Insiders have sold 44,183 shares of company stock valued at $7,320,858 in the last three months. 0.62% of the stock is owned by insiders.
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Cummins Inc. (NYSE:CMI) opened at 166.94 on Tuesday. Cummins Inc. has a one year low of $119.04 and a one year high of $170.68. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 18.87 and a beta of 1.10. The stock has a 50 day moving average of $158.41 and a 200 day moving average of $156.90.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 1st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.05). Cummins had a return on equity of 20.67% and a net margin of 8.10%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $2.40 EPS. Cummins’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post $7.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Wednesday, August 16th. This is an increase from Cummins’s previous quarterly dividend of $1.03. Cummins’s dividend payout ratio (DPR) is currently 48.76%.
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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