Cummins Inc. (NYSE:CMI) Shares Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,257 shares of the company’s stock after buying an additional 274 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Cummins were worth $5,093,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Balentine LLC increased its holdings in Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after purchasing an additional 127 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in shares of Cummins during the 3rd quarter valued at about $9,048,000. Sequoia Financial Advisors LLC lifted its position in Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,866 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $24,915,000. Finally, SG Americas Securities LLC increased its stake in Cummins by 227.6% during the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after buying an additional 16,869 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CMI shares. Evercore ISI increased their price target on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Morgan Stanley initiated coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target for the company. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $243.00 to $225.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Finally, The Goldman Sachs Group increased their price target on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Down 1.3 %

CMI stock opened at $287.56 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $280.26 and its 200 day simple moving average is $248.36. The stock has a market cap of $39.33 billion, a PE ratio of 55.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the firm posted $4.52 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts predict that Cummins Inc. will post 18.27 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 129.73%.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction on Friday, February 16th. The shares were 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 of the company’s stock, valued at $720,123.18. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock valued at $13,576,838 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

About Cummins

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.