781 Shares in Cummins Inc. $CMI Bought by Sun Financial Inc

Sun Financial Inc acquired a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, HoldingsChannel reports. The fund acquired 781 shares of the company’s stock, valued at approximately $399,000.

Several other institutional investors also recently modified their holdings of CMI. Boston Partners acquired a new stake in shares of Cummins during the third quarter worth $473,471,000. London Co. of Virginia acquired a new stake in shares of Cummins during the third quarter worth $231,732,000. Bank of New York Mellon Corp increased its position in shares of Cummins by 50.8% during the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock worth $612,715,000 after buying an additional 488,430 shares during the period. Nordea Investment Management AB increased its position in shares of Cummins by 103.8% during the fourth quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock worth $280,397,000 after buying an additional 278,350 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of Cummins during the third quarter worth $91,147,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CMI shares. Argus set a $696.00 price objective on shares of Cummins in a research report on Tuesday, February 10th. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Morgan Stanley reiterated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a research report on Friday, February 6th. Barclays increased their price objective on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Finally, UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $600.27.

Insider Activity

In other news, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president directly owned 7,214 shares in the company, valued at $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the transaction, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This represents a 20.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.30% of the stock is currently owned by insiders.

Cummins Stock Down 0.0%

Shares of NYSE CMI opened at $657.42 on Monday. The stock has a market capitalization of $90.83 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.08 and a beta of 1.27. The company has a 50-day moving average price of $581.03 and a 200-day moving average price of $537.79. Cummins Inc. has a 1 year low of $290.73 and a 1 year high of $674.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $5.16 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 26.05 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.