OLD Second National Bank of Aurora Sells 416 Shares of Cummins Inc. (NYSE:CMI)

OLD Second National Bank of Aurora reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,138 shares of the company’s stock after selling 416 shares during the quarter. Cummins makes up approximately 1.2% of OLD Second National Bank of Aurora’s holdings, making the stock its 24th biggest position. OLD Second National Bank of Aurora’s holdings in Cummins were worth $4,345,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of Cummins in the third quarter valued at $25,000. Silver Oak Securities Incorporated bought a new position in shares of Cummins in the third quarter valued at $28,000. Tyler Stone Wealth Management bought a new position in shares of Cummins in the second quarter valued at $30,000. Global Wealth Strategies & Associates acquired a new stake in Cummins during the 3rd quarter valued at $29,000. Finally, Quarry LP acquired a new stake in Cummins during the 1st quarter valued at $32,000. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at $720,123.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial started coverage on Cummins in a report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and lifted their target price for the company from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, Morgan Stanley initiated coverage on Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average target price of $279.70.

Cummins Trading Up 0.8 %

Shares of NYSE:CMI traded up $2.30 during midday trading on Thursday, hitting $293.66. 84,121 shares of the stock were exchanged, compared to its average volume of 2,808,854. The stock has a market capitalization of $40.16 billion, a price-to-earnings ratio of 56.25, a P/E/G ratio of 2.01 and a beta of 1.04. 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 business’s 50-day moving average price is $278.71 and its 200 day moving average price is $247.63. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24.

Cummins (NYSE:CMI) last announced its 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 net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the company earned $4.52 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. Analysts predict that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is presently 129.73%.

Cummins Profile

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.