Cummins Inc. (NYSE:CMI) Shares Bought by CoreCap Advisors LLC

CoreCap Advisors LLC increased its holdings in Cummins Inc. (NYSE:CMIFree Report) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,623 shares of the company’s stock after buying an additional 263 shares during the quarter. CoreCap Advisors LLC’s holdings in Cummins were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMI. Synovus Financial Corp increased its holdings in Cummins by 254.4% in the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock worth $1,242,000 after buying an additional 4,378 shares during the period. Cibc World Market Inc. grew its stake in shares of Cummins by 65.4% during the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock worth $3,732,000 after purchasing an additional 7,191 shares during the period. Sei Investments Co. grew its stake in shares of Cummins by 16.1% during the 1st quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock worth $19,282,000 after purchasing an additional 13,058 shares during the period. Prudential PLC acquired a new stake in shares of Cummins during the 1st quarter worth approximately $711,000. Finally, Cetera Investment Advisers grew its stake in shares of Cummins by 43.0% during the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock worth $1,313,000 after purchasing an additional 1,925 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

Cummins Trading Down 0.8 %

Shares of CMI stock opened at $287.88 on Tuesday. The stock’s fifty day moving average is $258.16 and its two-hundred day moving average is $239.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm has a market capitalization of $40.84 billion, a P/E ratio of 55.58, a PEG ratio of 1.97 and a beta of 1.03. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $297.11.

Cummins (NYSE:CMIGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the prior year, the firm earned $4.52 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Research analysts expect that Cummins Inc. will post 18.36 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. Cummins’s dividend payout ratio is presently 129.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMI. Evercore ISI raised their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $243.00 to $225.00 in a research note on Friday, January 19th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus target price of $271.64.

Get Our Latest Research Report on Cummins

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. 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 in the last quarter. Company insiders own 1.12% of the company’s stock.

About Cummins

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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