Bailard Inc. Grows Stock Position in Cummins Inc. (NYSE:CMI)

Bailard Inc. increased its holdings in Cummins Inc. (NYSE:CMI) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,489 shares of the company’s stock after buying an additional 1,137 shares during the period. Bailard Inc.’s holdings in Cummins were worth $13,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Cummins in the 3rd quarter worth about $25,000. Silver Oak Securities Incorporated purchased a new stake in shares of Cummins in the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of Cummins in the 3rd quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Cummins in the 3rd quarter worth about $39,000. Finally, Peoples Bank KS acquired a new position in Cummins in the 3rd quarter valued at about $43,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Monday. TD Cowen boosted their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup boosted their target price on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $279.70.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated 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 approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the company’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 value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is currently owned by company insiders.

Cummins Trading Down 0.1 %

Shares of NYSE CMI traded down $0.28 on Wednesday, reaching $292.42. 760,636 shares of the company traded hands, compared to its average volume of 2,740,257. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a 50 day moving average of $282.33 and a 200 day moving average of $249.89. 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 has a market capitalization of $39.99 billion, a PE ratio of 56.45, a P/E/G ratio of 1.97 and a beta of 1.04.

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

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders 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 dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is currently 129.73%.

Cummins Profile

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.