Cummins Inc. $CMI Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,367,001 shares of the company’s stock after buying an additional 91,956 shares during the quarter. Fisher Asset Management LLC owned about 2.44% of Cummins worth $1,422,121,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Stock Yards Bank & Trust Co. grew its stake in shares of Cummins by 0.4% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after purchasing an additional 24 shares during the last quarter. Whittier Trust Co. grew its position in Cummins by 0.9% in the 3rd quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock valued at $1,154,000 after buying an additional 24 shares during the last quarter. Howard Capital Management Inc. increased its stake in Cummins by 2.9% in the 3rd quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock valued at $365,000 after buying an additional 24 shares during the period. BNP Paribas raised its position in Cummins by 1.8% during the 2nd quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after buying an additional 25 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in shares of Cummins by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 845 shares of the company’s stock worth $357,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president owned 7,214 shares of the company’s stock, valued at $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy Rochelle Davis sold 1,864 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $586.64, for a total value of $1,093,496.96. Following the transaction, the vice president directly owned 17,827 shares of the company’s stock, valued at $10,458,031.28. This trade represents a 9.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,141 shares of company stock worth $16,121,817. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMI. UBS Group set a $565.00 target price on shares of Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. Raymond James Financial raised their price objective on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the stock a “market perform” rating in a research report on Friday, February 6th. Robert W. Baird set a $580.00 price target on shares of Cummins in a research report on Friday, February 6th. Finally, Argus set a $696.00 price target on shares of Cummins in a report on Tuesday, February 10th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Cummins Trading Down 0.6%

NYSE:CMI opened at $584.37 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $566.52 and its two-hundred day moving average is $485.66. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The company has a market cap of $80.74 billion, a PE ratio of 28.48, a P/E/G ratio of 1.85 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 EPS. On average, analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s dividend payout ratio is 38.99%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.