3 days Ago By ABMN Staff
Bokf Na cut its position in shares of Cummins Inc. ( NYSE:CMI – Free Report ) by 5.4% during the second quarter, Holdings Channel reports.
The institutional investor owned 4,536 shares of the company’s stock after selling 261 shares during the quarter. Bokf Na’s holdings in Cummins were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission. Other large investors have also recently added to or reduced their stakes in the company.
Cultivar Capital Inc. acquired a new stake in Cummins during the second quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd.
acquired a new position in shares of Cummins in the 2nd quarter worth approximately $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins in the 2nd quarter worth approximately $29,000. LRI Investments LLC acquired a new position in shares of Cummins in the 1st quarter worth approximately $31,000.
Finally, JNBA Financial Advisors boosted its holdings in shares of Cummins by 1,111.1% in the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter.
Institutional investors and hedge funds own 83.46% of the company’s stock. Wall Street Analysts Forecast Growth CMI has been the topic of several recent analyst reports.
Citigroup initiated coverage on Cummins in a report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 target price on the stock.
JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $275.00 to $285.
00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of Cummins from $259.00 to $310.
00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price objective on shares of Cummins from $295.
00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on shares of Cummins from $290.
00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company.
According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $299.55. Cummins Stock Performance Shares of Cummins stock opened at $302.
13 on Monday. The firm has a fifty day moving average of $294.86 and a two-hundred day moving average of $287.
28. The stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 22.
12, a PEG ratio of 1.70 and a beta of 0.98.
Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $322.
83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.
82 and a current ratio of 1.34. Cummins ( NYSE:CMI – Get Free Report ) last released its quarterly earnings data on Thursday, August 1st.
The company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.
41. Cummins had a net margin of 5.69% and a return on equity of 25.
73%. The business had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.
33 billion. During the same quarter in the prior year, the company earned $5.18 EPS.
The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Cummins Inc.
will post 19.66 EPS for the current year. Cummins Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th.
Investors of record on Friday, August 23rd were given a $1.82 dividend. The ex-dividend date of this dividend was Friday, August 23rd.
This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.41%.
This is a boost from Cummins’s previous quarterly dividend of $1.68. Cummins’s dividend payout ratio is currently 53.
29%. Insider Activity at Cummins In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.
24, for a total value of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.
08. The transaction was disclosed in a filing with the SEC, which is available through this link . In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction on Friday, August 23rd.
The shares were sold at an average price of $308.24, for a total value of $7,474,820.00.
Following the completion of the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The transaction was disclosed in a filing with the SEC, which is available through this link .
Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.
35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.
55. The disclosure for this sale can be found here . 0.
56% of the stock is owned by corporate insiders. Cummins Company Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc.
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