Cummins Inc. (NYSE:CMI) Shares Bought by Altshuler Shaham Ltd

Altshuler Shaham Ltd boosted its holdings in Cummins Inc. (NYSE:CMI) by 40.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,016 shares of the company’s stock after buying an additional 1,154 shares during the quarter. Altshuler Shaham Ltd’s holdings in Cummins were worth $962,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in Cummins in the third quarter valued at approximately $25,000. Silver Oak Securities Incorporated purchased a new stake in shares of Cummins in the third quarter worth about $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Cummins in the 4th quarter worth approximately $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Cummins in the third quarter valued at $39,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Cummins during the 4th quarter valued at $39,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Performance

Shares of NYSE CMI traded up $5.52 during trading hours on Thursday, hitting $294.58. 626,980 shares of the stock were exchanged, compared to its average volume of 2,513,304. The firm has a market capitalization of $40.29 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. Cummins Inc. has a one year low of $203.18 and a one year high of $304.24. The company’s 50 day moving average is $286.48 and its 200 day moving average is $254.08.

Cummins (NYSE:CMI) last announced 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). The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.52 earnings per share. On average, research analysts expect that Cummins Inc. will post 18.45 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.28%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now directly owns 17,874 shares in the company, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders have sold a total of 55,169 shares of company stock valued at $14,689,855 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMI. Citigroup boosted their price target on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. The Goldman Sachs Group boosted their price objective on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Finally, Evercore ISI increased their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and an average target price of $282.55.

About Cummins

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.