Union Savings Bank Purchases 75 Shares of Cummins Inc. (NYSE:CMI)

Union Savings Bank increased its stake in Cummins Inc. (NYSE:CMI) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 668 shares of the company’s stock after purchasing an additional 75 shares during the period. Union Savings Bank’s holdings in Cummins were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board raised its position in Cummins by 3.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 1,430,966 shares of the company’s stock worth $342,817,000 after buying an additional 43,090 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Cummins by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 344 shares of the company’s stock valued at $82,000 after purchasing an additional 100 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Cummins by 6.4% during the 4th quarter. Assetmark Inc. now owns 16,965 shares of the company’s stock valued at $4,064,000 after purchasing an additional 1,020 shares in the last quarter. BNP Paribas Asset Management Holding S.A. increased its holdings in shares of Cummins by 38.9% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 246,959 shares of the company’s stock valued at $59,164,000 after purchasing an additional 69,179 shares in the last quarter. Finally, L.M. Kohn & Company purchased a new stake in Cummins in the 4th quarter worth $209,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Down 0.3 %

NYSE CMI traded down $0.91 during trading hours on Thursday, reaching $284.42. The company had a trading volume of 157,275 shares, compared to its average volume of 2,340,657. The stock has a 50-day moving average of $290.55 and a 200 day moving average of $259.12. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $38.90 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be given a $1.68 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a yield of 2.36%. Cummins’s payout ratio is currently 49.19%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at $5,987,628.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Marvin Boakye bought 1,745 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average cost of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the purchase, the vice president now owns 1,745 shares of the company’s stock, valued at $499,139.80. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the sale, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CMI shares. Evercore ISI boosted their price target on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Truist Financial reissued a “hold” rating and issued a $319.00 price target on shares of Cummins in a report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Finally, TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cummins currently has an average rating of “Hold” and a consensus target price of $284.36.

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.