Cummins Inc. (NYSE:CMI) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its holdings in Cummins Inc. (NYSE:CMI) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,627 shares of the company’s stock after buying an additional 190 shares during the period. Benjamin Edwards Inc.’s holdings in Cummins were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Balentine LLC increased its stake in shares of Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after acquiring an additional 127 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Cummins by 200.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Cummins in the 3rd quarter valued at about $9,048,000. Capital Advisors Inc. OK purchased a new stake in shares of Cummins in the 4th quarter valued at approximately $24,915,000. Finally, SG Americas Securities LLC increased its holdings in shares of Cummins by 227.6% during the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after buying an additional 16,869 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the business’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 completion of the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $266.57 per share, with a total value of $149,812.34. Following the purchase, 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. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is currently owned by corporate insiders.

Cummins Stock Up 0.2 %

NYSE:CMI traded up $0.45 during midday trading on Friday, reaching $280.74. The company had a trading volume of 975,578 shares, compared to its average volume of 2,596,640. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 1.93 and a beta of 1.04. 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 fifty day simple moving average is $285.06 and its 200-day simple moving average is $252.19.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is 129.73%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CMI. JPMorgan Chase & Co. increased their price objective on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Citigroup upped their target price on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. TD Cowen upped their price objective on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $282.55.

About Cummins

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.