First Citizens Bank & Trust Co. bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,301 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also made changes to their positions in CMI. Morgan Stanley grew its stake in shares of Cummins by 5.3% during the 3rd quarter. Morgan Stanley now owns 1,727,365 shares of the company’s stock worth $252,315,000 after acquiring an additional 86,791 shares during the period. Jolley Asset Management LLC grew its stake in shares of Cummins by 4.2% during the 4th quarter. Jolley Asset Management LLC now owns 28,445 shares of the company’s stock worth $3,801,000 after acquiring an additional 1,138 shares during the period. First Hawaiian Bank grew its stake in shares of Cummins by 21.2% during the 4th quarter. First Hawaiian Bank now owns 7,661 shares of the company’s stock worth $1,023,000 after acquiring an additional 1,338 shares during the period. Paradigm Asset Management Co. LLC grew its stake in shares of Cummins by 0.9% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 17,350 shares of the company’s stock worth $2,534,000 after acquiring an additional 150 shares during the period. Finally, DNB Asset Management AS grew its stake in shares of Cummins by 2.0% during the 4th quarter. DNB Asset Management AS now owns 43,723 shares of the company’s stock worth $5,843,000 after acquiring an additional 867 shares during the period. 82.08% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Srikanth Padmanabhan sold 1,687 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $160.00, for a total transaction of $269,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Tracy A. Embree sold 206 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total value of $30,900.00. Following the sale, the vice president now directly owns 4,221 shares of the company’s stock, valued at approximately $633,150. The disclosure for this sale can be found here. Insiders sold 6,816 shares of company stock valued at $1,039,321 in the last 90 days. Company insiders own 0.95% of the company’s stock.

Shares of Cummins stock opened at $165.96 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 1.54. The company has a market capitalization of $26.36 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.14 and a beta of 1.09. Cummins Inc. has a one year low of $124.40 and a one year high of $172.08.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). Cummins had a return on equity of 29.71% and a net margin of 9.01%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same quarter in the prior year, the business posted $3.03 earnings per share. Cummins’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 15.47 EPS for the current fiscal year.

Several analysts have weighed in on the company. Buckingham Research raised their price target on Cummins from $160.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday. Robert W. Baird raised Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 price target on the stock in a report on Thursday, February 7th. Oppenheimer cut Cummins from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. Zacks Investment Research cut Cummins from a “hold” rating to a “sell” rating in a report on Wednesday, January 9th. Finally, ValuEngine raised Cummins from a “sell” rating to a “hold” rating in a report on Friday, February 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $163.19.

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Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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