3,389 Shares in Cummins Inc. $CMI Acquired by North Dallas Bank & Trust Co.

North Dallas Bank & Trust Co. purchased a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,389 shares of the company’s stock, valued at approximately $1,730,000. Cummins comprises 1.1% of North Dallas Bank & Trust Co.’s portfolio, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of CMI. Thompson Investment Management Inc. bought a new position in shares of Cummins in the fourth quarter worth approximately $26,000. Activest Wealth Management grew its holdings in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Cummins in the fourth quarter worth approximately $27,000. Ares Financial Consulting LLC bought a new position in shares of Cummins in the fourth quarter worth approximately $29,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Cummins in the second quarter worth approximately $31,000. 83.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CMI shares. Truist Financial set a $815.00 price target on Cummins in a research note on Wednesday, May 6th. Citigroup raised their price objective on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the company from $565.00 to $850.00 in a research report on Monday. Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Finally, Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus price target of $726.14.

Insider Activity at Cummins

In related news, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider owned 10,404 shares in the company, valued at approximately $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This represents a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,579 shares of company stock worth $9,377,684 in the last quarter. 0.30% of the stock is currently owned by insiders.

Cummins Trading Down 0.6%

Cummins stock opened at $668.73 on Wednesday. The business has a 50-day simple moving average of $641.50 and a two-hundred day simple moving average of $580.27. The company has a market cap of $92.28 billion, a P/E ratio of 34.70, a P/E/G ratio of 1.64 and a beta of 1.23. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.96 EPS. Analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. Cummins’s payout ratio is 41.52%.

Cummins 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.