Camelot Portfolios LLC bought a new stake in Cummins Inc. (NYSE:CMI – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,684 shares of the company’s stock, valued at approximately $408,000.
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A number of other large investors have also recently made changes to their positions in the company. West Financial Advisors LLC acquired a new position in Cummins during the third quarter valued at approximately $26,000. Exchange Traded Concepts LLC boosted its holdings in Cummins by 588.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 117 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in Cummins by 64.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 164 shares of the company’s stock worth $33,000 after buying an additional 64 shares in the last quarter. Ten Capital Wealth Advisors LLC acquired a new position in Cummins during the third quarter valued at approximately $35,000. Finally, Castle Wealth Management LLC boosted its holdings in Cummins by 125.0% in the third quarter. Castle Wealth Management LLC now owns 180 shares of the company’s stock worth $37,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.94% of the company’s shares.
The experts make their bets
In other Cummins news, VP Sharon R. Barner sold 5,540 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $252.34, for a total transaction of $1,397,963.60. Following the completion of the transaction, the vice president now directly owns 16,144 shares in the company, valued at $4,073,776.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, VP Sharon R. Barner sold 5,540 shares of Cummins stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $252.34, for a total value of $1,397,963.60. Following the completion of the sale, the vice president now directly owns 16,144 shares in the company, valued at $4,073,776.96. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. Also, Director Georgia R. Nelson sold 1,933 shares of Cummins stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now owns 21,742 shares of the company’s stock, valued at $5,471,156.88. Disclosure of this sale can be found here. Insiders sold 16,709 shares of company stock worth $4,245,545 over the last three months. Currently, 1.05% of the shares are owned by corporate insiders.
Cummins shares fell 2.8%
CMI opened at $231.90 on Wednesday. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.39 and a beta of 1.00. cummins inc it has a one year low of $184.27 and a one year high of $261.91. The company has a 50-day moving average of $244.12 and a 200-day moving average of $238.80. The company has a current ratio of 1.27, a quick ratio of 0.77, and a debt-to-equity ratio of 0.45.
Cummins (NYSE:CMI – Get Rating) last posted its earnings results on Monday, February 6th. The company reported $4.52 EPS for the quarter, hitting the consensus estimate of $4.52. The company had revenue of $7.77 billion in the quarter, compared to analysts’ expectations of $7.21 billion. Cummins had a return on equity of 24.58% and a net margin of 7.66%. Cummins’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $2.85. As a group, sell-side analysts forecast that Cummins Inc. will post 18.95 earnings per share for the current year.
Cummins Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Stockholders of record on Friday, February 24th were given a dividend of $1.57 per share. The ex-dividend date was Thursday, February 23. This represents an annualized dividend of $6.28 and a yield of 2.71%. Cummins’s dividend payout ratio is currently 41.56%.
Changes in analyst ratings
A number of research firms have recently commented on CMI. Deutsche Bank Aktiengesellschaft decreased their price objective on Cummins from $235.00 to $231.00 and set a “hold” rating on the stock in a report on Tuesday, February 7th. Credit Suisse Group boosted their target price on Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. StockNews.com began coverage on Cummins in a research report on Thursday, March 16th. They set a “buy” rating on the company. Morgan Stanley cut their price target on Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Finally, UBS Group upped their target price on Cummins from $247.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $254.75, according to MarketBeat.
Cummins Company Profile
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Cummins, Inc is engaged in the design, manufacture and marketing of diesel and natural gas engines. It operates through the following segments: engine, distribution, components, power systems and new power. The Engines segment manufactures and markets diesel and natural gas engines under the Cummins brand, for heavy- and medium-duty trucks, buses, recreational vehicles, light automotive, construction, mining, marine, rail, oil and gas. , defense and agricultural markets.
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