Cummins Inc. (NYSE:CMI) Shares Sold by Commerce Bank

Commerce Bank reduced its holdings in Cummins Inc. (NYSE:CMI) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,369 shares of the company’s stock after selling 105 shares during the quarter. Commerce Bank’s holdings in Cummins were worth $5,948,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock valued at $2,342,001,000 after acquiring an additional 604,735 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after purchasing an additional 26,977 shares during the period. Legal & General Group Plc boosted its holdings in shares of Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after purchasing an additional 31,190 shares during the last quarter. Finally, Marshfield Associates grew its stake in shares of Cummins by 0.3% during the 2nd quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock valued at $288,699,000 after buying an additional 3,076 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 4,326 shares of company stock worth $1,559,125 in the last ninety days. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

CMI has been the topic of several research reports. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Citigroup boosted their target price on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $337.67.

Cummins Trading Up 2.3 %

Shares of NYSE CMI opened at $369.13 on Friday. The stock has a market capitalization of $50.64 billion, a P/E ratio of 24.38, a PEG ratio of 1.77 and a beta of 0.97. The stock’s 50 day moving average price is $334.37 and its two-hundred day moving average price is $303.79. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.64.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the company posted $4.73 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is presently 48.08%.

Cummins Company Profile

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.