Columbus Macro LLC Raises Holdings in Cummins Inc. (NYSE:CMI)

Columbus Macro LLC lifted its holdings in shares of Cummins Inc. (NYSE:CMIFree Report) by 222.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,828 shares of the company’s stock after acquiring an additional 1,952 shares during the period. Columbus Macro LLC’s holdings in Cummins were worth $833,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. First United Bank & Trust purchased a new stake in Cummins in the fourth quarter valued at approximately $25,000. Private Wealth Management Group LLC purchased a new stake in Cummins in the fourth quarter valued at approximately $26,000. Silver Oak Securities Incorporated purchased a new stake in Cummins in the third quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Cummins in the fourth quarter valued at approximately $31,000. Finally, Quarry LP boosted its position in Cummins by 258.5% in the fourth quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.3 %

NYSE:CMI traded down $0.84 during trading hours on Tuesday, hitting $283.12. The company had a trading volume of 869,347 shares, compared to its average volume of 2,117,783. 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 company has a 50-day moving average of $283.16 and a 200 day moving average of $267.84. The company has a market cap of $38.73 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.73 and a beta of 1.02. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $304.24.

Cummins (NYSE:CMIGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Sell-side analysts expect that Cummins Inc. will post 18.84 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 24th were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio is presently 49.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CMI shares. Robert W. Baird decreased their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and upped their target price for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group upped their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $284.36.

Read Our Latest Analysis on Cummins

Insider Buying and Selling

In related news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction on Friday, May 24th. The stock was bought at an average price of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now directly owns 1,262 shares in the company, valued at approximately $359,808.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jeffrey T. Wiltrout purchased 282 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the purchase, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

About Cummins

(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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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