3,866 Shares in Cummins Inc. (NYSE:CMI) Acquired by AIA Group Ltd

AIA Group Ltd bought a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,866 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bison Wealth LLC boosted its stake in shares of Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after acquiring an additional 42 shares during the last quarter. KB Financial Partners LLC raised its position in shares of Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after purchasing an additional 45 shares during the period. Edmp Inc. raised its position in shares of Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after purchasing an additional 46 shares during the period. Columbia Trust Co 01012016 raised its position in shares of Cummins by 1.2% during the 3rd quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after purchasing an additional 48 shares during the period. Finally, Ledge Wealth Management Inc. raised its position in shares of Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel William Fisher purchased 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now owns 1,068 shares in the company, valued at approximately $284,696.76. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $287.56 on Friday. The company’s 50-day moving average price is $280.26 and its 200-day moving average price is $248.36. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The company has a market cap of $39.33 billion, a PE ratio of 55.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter last year, the firm earned $4.52 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Cummins Inc. will post 18.27 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.34%. Cummins’s dividend payout ratio is presently 129.73%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $243.00 to $225.00 in a research report on Friday, January 19th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the company from $254.00 to $321.00 in a report on Friday, March 15th. Truist Financial started coverage on shares of Cummins in a report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price target on the stock. Finally, Evercore ISI lifted their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cummins has a consensus rating of “Hold” and an average target price of $279.70.

Cummins 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.