National Pension Service Sells 13,487 Shares of Cummins Inc. (NYSE:CMI)

National Pension Service reduced its position in shares of Cummins Inc. (NYSE:CMI – Get Rating) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 193,842 shares of the company’s stock after selling 13,487 shares during the quarter. National Pension Service’s holdings in Cummins were worth $39,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cummins by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock worth $2,687,113,000 after purchasing an additional 226,774 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cummins by 39.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock valued at $1,067,213,000 after acquiring an additional 1,484,171 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after acquiring an additional 173,139 shares during the last quarter. LSV Asset Management increased its stake in shares of Cummins by 0.3% in the 3rd quarter. LSV Asset Management now owns 2,082,812 shares of the company’s stock valued at $423,873,000 after acquiring an additional 6,089 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cummins by 48.8% in the 3rd quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock valued at $413,878,000 after acquiring an additional 666,567 shares during the last quarter. 80.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Walter J. Fier sold 3,307 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total transaction of $836,637.93. Following the sale, the vice president now owns 8,090 shares in the company, valued at approximately $2,046,689.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Sharon R. Barner sold 5,540 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $252.34, for a total transaction of $1,397,963.60. Following the sale, the vice president now owns 16,144 shares in the company, valued at approximately $4,073,776.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Walter J. Fier sold 3,307 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total value of $836,637.93. Following the sale, the vice president now owns 8,090 shares in the company, valued at approximately $2,046,689.10. The disclosure for this sale can be found here. Insiders sold a total of 16,709 shares of company stock valued at $4,245,545 in the last quarter. 1.05% of the stock is currently owned by insiders.

Cummins Trading Up 0.6 %

NYSE:CMI opened at $231.84 on Friday. Cummins Inc. has a twelve month low of $184.27 and a twelve month high of $261.91. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $247.96 and a two-hundred day moving average price of $237.03. The company has a market cap of $32.78 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.37 and a beta of 1.01.

Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings results on Monday, February 6th. The company reported $4.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $4.52. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the firm posted $2.85 EPS. The business’s revenue was up 32.8% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 18.95 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Friday, February 24th were given a dividend of $1.57 per share. This represents a $6.28 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Thursday, February 23rd. Cummins’s dividend payout ratio (DPR) is currently 41.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CMI shares. UBS Group upped their price target on Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Cummins from $235.00 to $231.00 and set a “hold” rating for the company in a research note on Tuesday, February 7th. Credit Suisse Group upped their price target on Cummins from $287.00 to $291.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. Morgan Stanley lowered their price target on Cummins from $264.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. Finally, StockNews.com began coverage on Cummins in a research report on Thursday. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $254.75.

Cummins Company Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.