Moody National Bank Trust Division Sells 1,234 Shares of Cummins Inc. (NYSE:CMI)

Moody National Bank Trust Division trimmed its holdings in shares of Cummins Inc. (NYSE:CMIGet Rating) by 12.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,717 shares of the company’s stock after selling 1,234 shares during the quarter. Moody National Bank Trust Division’s holdings in Cummins were worth $1,788,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Johanson Financial Advisors Inc. grew its position in Cummins by 3.1% in the fourth quarter. Johanson Financial Advisors Inc. now owns 1,420 shares of the company’s stock valued at $310,000 after acquiring an additional 43 shares during the last quarter. Venturi Wealth Management LLC grew its position in Cummins by 1.0% in the fourth quarter. Venturi Wealth Management LLC now owns 4,820 shares of the company’s stock valued at $1,051,000 after acquiring an additional 48 shares during the last quarter. Siemens Fonds Invest GmbH grew its position in Cummins by 1.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 3,864 shares of the company’s stock valued at $842,000 after acquiring an additional 49 shares during the last quarter. Dearborn Partners LLC grew its position in Cummins by 5.6% in the fourth quarter. Dearborn Partners LLC now owns 950 shares of the company’s stock valued at $207,000 after acquiring an additional 50 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew its position in Cummins by 4.5% in the fourth quarter. Moloney Securities Asset Management LLC now owns 1,166 shares of the company’s stock valued at $254,000 after acquiring an additional 50 shares during the last quarter. 80.50% of the stock is owned by institutional investors and hedge funds.

In related news, Director Franklin R. Changdiaz sold 1,560 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $199.62, for a total transaction of $311,407.20. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at $966,560.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Norman Thomas Linebarger sold 37,510 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $207.09, for a total value of $7,767,945.90. The disclosure for this sale can be found here. Insiders have sold 50,710 shares of company stock worth $10,468,698 over the last ninety days. 1.00% of the stock is owned by insiders.

A number of research analysts have issued reports on the company. UBS Group cut Cummins from a “buy” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $214.00 in a research report on Friday, March 18th. Credit Suisse Group reduced their price target on Cummins from $304.00 to $270.00 in a report on Wednesday, May 4th. StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft reduced their price target on Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. Finally, Citigroup reduced their price target on Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $253.22.

Cummins stock opened at $193.87 on Thursday. The stock’s 50 day moving average is $201.17 and its 200 day moving average is $209.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.68 and a quick ratio of 1.07. The firm has a market cap of $27.36 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.26 and a beta of 1.02. Cummins Inc. has a one year low of $186.17 and a one year high of $247.48.

Cummins (NYSE:CMIGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.55 by $0.49. Cummins had a return on equity of 23.19% and a net margin of 8.00%. The firm had revenue of $6.39 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the firm earned $4.04 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 17.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Stockholders of record on Friday, May 20th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Thursday, May 19th. Cummins’s payout ratio is 43.15%.

Cummins Profile (Get Rating)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

Recommended Stories

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMIGet Rating).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.