Cummins Inc. (NYSE:CMI) Shares Bought by Capital Research Global Investors

Capital Research Global Investors lifted its holdings in shares of Cummins Inc. (NYSE:CMIGet Rating) by 0.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,864,628 shares of the company’s stock after buying an additional 309 shares during the quarter. Capital Research Global Investors owned approximately 2.03% of Cummins worth $587,564,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH raised its stake in shares of Cummins by 1.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 3,864 shares of the company’s stock worth $842,000 after buying an additional 49 shares during the period. Equitable Holdings Inc. raised its stake in shares of Cummins by 3.1% during the 4th quarter. Equitable Holdings Inc. now owns 1,650 shares of the company’s stock worth $360,000 after buying an additional 50 shares during the period. First City Capital Management Inc. increased its position in shares of Cummins by 1.7% during the first quarter. First City Capital Management Inc. now owns 2,932 shares of the company’s stock worth $601,000 after purchasing an additional 50 shares in the last quarter. City Holding Co. grew its holdings in Cummins by 0.3% in the 4th quarter. City Holding Co. now owns 17,371 shares of the company’s stock valued at $3,546,000 after buying an additional 52 shares in the last quarter. Finally, J2 Capital Management Inc grew its holdings in Cummins by 5.3% in the 1st quarter. J2 Capital Management Inc now owns 1,030 shares of the company’s stock valued at $211,000 after buying an additional 52 shares in the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

CMI opened at $213.26 on Thursday. The stock’s 50-day moving average price is $214.68 and its 200 day moving average price is $205.57. Cummins Inc. has a 12-month low of $184.27 and a 12-month high of $247.48. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.42 and a beta of 1.03.

Cummins (NYSE:CMIGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $4.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.40. Cummins had a return on equity of 23.41% and a net margin of 8.26%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.48 billion. During the same quarter in the prior year, the company earned $4.15 EPS. Cummins’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Cummins Inc. will post 17.59 earnings per share for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 19th were paid a dividend of $1.57 per share. This is a positive change from Cummins’s previous quarterly dividend of $1.45. The ex-dividend date was Thursday, August 18th. This represents a $6.28 annualized dividend and a yield of 2.94%. Cummins’s dividend payout ratio is presently 43.98%.

Insider Buying and Selling

In other Cummins news, Vice Chairman Tony Satterthwaite sold 4,866 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $230.18, for a total value of $1,120,055.88. Following the sale, the insider now owns 59,276 shares of the company’s stock, valued at approximately $13,644,149.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cummins news, Vice Chairman Tony Satterthwaite sold 4,866 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $230.18, for a total value of $1,120,055.88. Following the sale, the insider now owns 59,276 shares of the company’s stock, valued at approximately $13,644,149.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srikanth Padmanabhan sold 6,020 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $222.01, for a total value of $1,336,500.20. Following the completion of the sale, the insider now directly owns 22,020 shares in the company, valued at approximately $4,888,660.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,001 shares of company stock valued at $3,157,774. Corporate insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of several analyst reports. Morgan Stanley dropped their target price on Cummins from $205.00 to $187.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft dropped their target price on Cummins from $232.00 to $216.00 and set a “hold” rating for the company in a report on Wednesday, July 13th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 3rd. Credit Suisse Group increased their price target on Cummins from $249.00 to $266.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Finally, Cowen lowered their price target on Cummins from $281.00 to $267.00 in a report on Thursday, July 7th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $241.22.

Cummins Profile

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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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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