Citizens Financial Group Inc. RI Sells 1,020 Shares of Cummins Inc. $CMI

Citizens Financial Group Inc. RI lowered its holdings in Cummins Inc. (NYSE:CMI) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 30,101 shares of the company’s stock after selling 1,020 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Cummins were worth $15,365,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. New York State Teachers Retirement System grew its position in Cummins by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 112,798 shares of the company’s stock valued at $57,578,000 after purchasing an additional 887 shares in the last quarter. Activest Wealth Management grew its position in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Cummins in the 4th quarter valued at about $41,000. Canandaigua National Bank & Trust Co. lifted its stake in Cummins by 8.8% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 4,099 shares of the company’s stock valued at $2,092,000 after purchasing an additional 333 shares during the last quarter. Finally, Wendell David Associates Inc. acquired a new stake in Cummins in the 4th quarter valued at about $215,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 in the last ninety days. Insiders own 0.30% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $672.51 on Friday. The company has a market capitalization of $92.91 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The company has a 50-day simple moving average of $581.03 and a 200 day simple moving average of $536.06. Cummins Inc. has a 52 week low of $290.73 and a 52 week high of $674.75.

Cummins (NYSE:CMI) last announced 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 business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. Cummins’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.16 EPS. On average, sell-side analysts predict that Cummins Inc. will post 26.03 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. Cummins’s payout ratio is presently 38.99%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CMI shares. JPMorgan Chase & Co. raised their target price on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Citigroup raised their target price on shares of Cummins from $630.00 to $710.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Morgan Stanley reiterated an “overweight” rating and issued a $675.00 target price on shares of Cummins in a research note on Friday, February 6th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Finally, Robert W. Baird set a $580.00 target price on shares of Cummins in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $600.27.

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.