Cummins Inc. (NYSE:CMI) Shares Bought by Atwater Malick LLC

Atwater Malick LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,316 shares of the company’s stock after purchasing an additional 915 shares during the period. Cummins makes up about 3.5% of Atwater Malick LLC’s holdings, making the stock its 13th biggest position. Atwater Malick LLC’s holdings in Cummins were worth $6,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LA Financiere DE L Echiquier increased its position in Cummins by 18.7% during the 2nd quarter. LA Financiere DE L Echiquier now owns 172,434 shares of the company’s stock worth $42,042,000 after purchasing an additional 27,147 shares during the period. Hoylecohen LLC boosted its stake in shares of Cummins by 6.2% during the 1st quarter. Hoylecohen LLC now owns 8,106 shares of the company’s stock worth $2,100,000 after acquiring an additional 473 shares in the last quarter. Galvin Gaustad & Stein LLC boosted its stake in shares of Cummins by 6.2% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 9,205 shares of the company’s stock worth $2,244,000 after acquiring an additional 538 shares in the last quarter. Aviva PLC boosted its stake in shares of Cummins by 13.5% during the 2nd quarter. Aviva PLC now owns 56,048 shares of the company’s stock worth $13,665,000 after acquiring an additional 6,646 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cummins by 10.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 21,329 shares of the company’s stock worth $5,201,000 after acquiring an additional 1,988 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

CMI traded down $1.98 during trading on Thursday, hitting $225.86. The company’s stock had a trading volume of 1,143,829 shares, compared to its average volume of 1,027,933. The firm’s 50 day moving average price is $233.48 and its 200-day moving average price is $239.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.80 and a quick ratio of 1.17. The stock has a market cap of $32.31 billion, a PE ratio of 14.84, a PEG ratio of 1.31 and a beta of 1.06. Cummins Inc. has a twelve month low of $216.41 and a twelve month high of $277.09.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Monday, November 1st. The company reported $3.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.99 by ($0.30). Cummins had a net margin of 9.32% and a return on equity of 24.91%. During the same period last year, the company earned $3.57 earnings per share. Equities analysts anticipate that Cummins Inc. will post 15.26 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 2nd. Stockholders of record on Friday, November 19th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.57%. Cummins’s payout ratio is 38.11%.

In related news, Vice Chairman Tony Satterthwaite sold 9,190 shares of the stock in a transaction on Tuesday, November 23rd. The stock was sold at an average price of $226.72, for a total value of $2,083,556.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leo Allen Bruno V. Di sold 1,000 shares of the stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $233.81, for a total value of $233,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,550 shares of company stock valued at $4,052,119. Insiders own 1.00% of the company’s stock.

CMI has been the topic of several research analyst reports. The Goldman Sachs Group lowered Cummins from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $230.00 in a research note on Tuesday, August 24th. Credit Suisse Group boosted their price target on Cummins from $295.00 to $304.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 3rd. Morgan Stanley upped their target price on Cummins from $252.00 to $262.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 3rd. Evercore ISI reduced their target price on Cummins from $315.00 to $299.00 and set an “outperform” rating on the stock in a research note on Thursday, October 14th. Finally, Citigroup upped their target price on Cummins from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, October 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $284.36.

Cummins Profile

Cummins, Inc designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, 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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