Cummins Inc. $CMI Shares Bought by Czech National Bank

Czech National Bank grew its holdings in Cummins Inc. (NYSE:CMI) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,398 shares of the company’s stock after purchasing an additional 1,403 shares during the quarter. Czech National Bank’s holdings in Cummins were worth $18,579,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $28,000. Osterweis Capital Management Inc. acquired a new position in Cummins during the second quarter worth $31,000. Holos Integrated Wealth LLC purchased a new stake in Cummins in the 4th quarter valued at $32,000. Guerra Advisors Inc purchased a new stake in Cummins in the 3rd quarter valued at $36,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE CMI opened at $529.03 on Friday. The stock has a fifty day simple moving average of $572.17 and a 200-day simple moving average of $504.28. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $73.09 billion, a PE ratio of 25.78, a P/E/G ratio of 1.75 and a beta of 1.12. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. Cummins’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 earnings per share. Equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s payout ratio is 38.99%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMI. Barclays boosted their price target on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the stock a “market perform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and an average target price of $588.93.

Insider Transactions at Cummins

In other news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the transaction, the vice president directly owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the sale, the vice president owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This trade represents a 22.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is owned by company insiders.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.