Riverview Trust Co raised its position in shares of Cummins Inc. (NYSE:CMI – Get Rating) by 75.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351 shares of the company’s stock after purchasing an additional 151 shares during the quarter. Riverview Trust Co’s holdings in Cummins were worth $72,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Cummins by 153.9% in the third quarter. Wellington Management Group LLP now owns 21,217 shares of the company’s stock worth $4,764,000 after buying an additional 12,859 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Cummins by 69.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,400 shares of the company’s stock worth $988,000 after buying an additional 1,800 shares during the last quarter. Eagle Capital Management LLC boosted its stake in shares of Cummins by 3.5% in the fourth quarter. Eagle Capital Management LLC now owns 16,405 shares of the company’s stock worth $3,579,000 after buying an additional 548 shares during the last quarter. Adams Asset Advisors LLC boosted its stake in shares of Cummins by 4.1% in the fourth quarter. Adams Asset Advisors LLC now owns 35,009 shares of the company’s stock worth $7,636,000 after buying an additional 1,366 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of Cummins by 33.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 1,885 shares of the company’s stock worth $411,000 after buying an additional 475 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company’s stock.
In related news, VP Sharon R. Barner sold 4,750 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $205.00, for a total value of $973,750.00. Following the completion of the sale, the vice president now owns 16,348 shares of the company’s stock, valued at $3,351,340. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Franklin R. Changdiaz sold 1,560 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $199.62, for a total value of $311,407.20. Following the completion of the sale, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $966,560.04. The disclosure for this sale can be found here. Insiders have sold 11,310 shares of company stock valued at $2,306,857 in the last three months. Insiders own 1.05% of the company’s stock.
Shares of Cummins stock opened at $194.11 on Friday. The business has a 50 day simple moving average of $200.23 and a two-hundred day simple moving average of $208.68. Cummins Inc. has a 12 month low of $184.27 and a 12 month high of $247.48. The stock has a market capitalization of $27.39 billion, a P/E ratio of 14.44, a PEG ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.68 and a quick ratio of 1.07.
Cummins (NYSE:CMI – Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.55 by $0.49. Cummins had a return on equity of 23.19% and a net margin of 8.00%. The business had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the firm earned $4.04 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Cummins Inc. will post 17.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th were issued a dividend of $1.45 per share. The ex-dividend date was Thursday, May 19th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.99%. Cummins’s payout ratio is currently 43.15%.
CMI has been the subject of a number of recent research reports. StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Citigroup lowered their target price on Cummins from $260.00 to $220.00 in a research note on Tuesday, April 12th. UBS Group downgraded Cummins from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $260.00 to $214.00 in a research report on Friday, March 18th. Morgan Stanley began coverage on Cummins in a research report on Thursday, June 23rd. They set an “equal weight” rating and a $205.00 price target on the stock. Finally, Credit Suisse Group lowered their price target on Cummins from $304.00 to $270.00 in a research report on Wednesday, May 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $248.33.
Cummins Profile: (Get Rating)
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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