Elo Mutual Pension Insurance Co Purchases 518 Shares of Cummins Inc. (NYSE:CMI)

Elo Mutual Pension Insurance Co raised its position in shares of Cummins Inc. (NYSE:CMIFree Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,366 shares of the company’s stock after acquiring an additional 518 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cummins were worth $2,963,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Core Wealth Advisors Inc. bought a new stake in Cummins during the 4th quarter valued at approximately $84,000. Waddell & Associates LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $202,000. Ossiam boosted its position in shares of Cummins by 12.0% in the 4th quarter. Ossiam now owns 3,905 shares of the company’s stock worth $936,000 after purchasing an additional 418 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in shares of Cummins in the 4th quarter worth approximately $234,000. Finally, Watchman Group Inc. bought a new stake in shares of Cummins in the 4th quarter worth approximately $3,243,000. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Jeffrey T. Wiltrout bought 282 shares of the company’s stock in a transaction that occurred 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 acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at approximately $359,808.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Marvin Boakye acquired 1,745 shares of the company’s stock in a transaction on Monday, May 20th. The stock was acquired at an average price of $286.04 per share, with a total value of $499,139.80. Following the acquisition, the vice president now directly owns 1,745 shares of the company’s stock, valued at $499,139.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeffrey T. Wiltrout acquired 282 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $285.11 per share, with a total value of $80,401.02. Following the acquisition, the vice president now directly owns 1,262 shares in the company, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of analyst reports. TD Cowen boosted their price target on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Robert W. Baird decreased their price objective on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Truist Financial restated a “hold” rating and issued a $319.00 price objective on shares of Cummins in a report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Finally, StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and an average target price of $284.36.

View Our Latest Research Report on CMI

Cummins Trading Up 0.4 %

NYSE:CMI opened at $272.95 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The firm has a market capitalization of $37.33 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02. Cummins Inc. has a one year low of $212.80 and a one year high of $304.24. The business has a fifty day moving average price of $288.16 and a 200-day moving average price of $264.55.

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

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s dividend payout ratio is currently 49.19%.

Cummins 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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