Cummins Inc. (NYSE:CMI) Holdings Cut by Community Bank N.A.

Community Bank N.A. decreased its stake in Cummins Inc. (NYSE:CMI) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,385 shares of the company’s stock after selling 50 shares during the quarter. Community Bank N.A.’s holdings in Cummins were worth $2,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Balentine LLC raised its holdings in shares of Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after purchasing an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC bought a new position in Cummins in the 3rd quarter worth $9,048,000. Capital Advisors Inc. OK bought a new position in Cummins in the 4th quarter worth $24,915,000. Finally, SG Americas Securities LLC raised its holdings in Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after acquiring an additional 16,869 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of Cummins stock traded down $0.28 during trading on Wednesday, hitting $292.42. 760,636 shares of the company’s stock traded hands, compared to its average volume of 2,740,257. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm’s fifty day moving average price is $282.33 and its 200 day moving average price is $249.89. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a market cap of $39.99 billion, a PE ratio of 56.45, a PEG ratio of 1.97 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.52 earnings per share. Analysts forecast that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMI shares. TD Cowen lifted their target price on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price target for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Morgan Stanley assumed coverage on shares of Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $279.70.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at $720,123.18. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock worth $13,576,838 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

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.