Bailard Inc. Has $9.57 Million Position in Cummins Inc. (NYSE:CMI)

Bailard Inc. cut its stake in Cummins Inc. (NYSE:CMIGet Rating) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 43,882 shares of the company’s stock after selling 738 shares during the period. Bailard Inc.’s holdings in Cummins were worth $9,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. AGF Investments America Inc. increased its position in Cummins by 48.1% during the third quarter. AGF Investments America Inc. now owns 78,876 shares of the company’s stock worth $17,712,000 after acquiring an additional 25,614 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Cummins by 11.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 13,528 shares of the company’s stock valued at $2,951,000 after purchasing an additional 1,353 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Cummins by 5.0% in the 4th quarter. Capital Investment Advisors LLC now owns 90,352 shares of the company’s stock valued at $19,709,000 after purchasing an additional 4,310 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Cummins by 1,947.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 174,867 shares of the company’s stock worth $38,145,000 after buying an additional 166,327 shares during the period. Finally, Ally Financial Inc. bought a new position in Cummins during the 3rd quarter worth approximately $2,246,000. 80.50% of the stock is currently owned by institutional investors.

Shares of NYSE:CMI traded up $1.68 during trading on Friday, reaching $201.12. 1,043,304 shares of the company traded hands, compared to its average volume of 968,308. The business’s fifty day moving average is $200.58 and its 200-day moving average is $215.22. Cummins Inc. has a 52-week low of $187.72 and a 52-week high of $270.84. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.25 and a beta of 1.03. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.

Cummins (NYSE:CMIGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.55 by $0.49. The business had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6.06 billion. Cummins had a return on equity of 23.19% and a net margin of 8.00%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.04 earnings per share. On average, sell-side analysts predict that Cummins Inc. will post 17.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Friday, May 20th will be issued a dividend of $1.45 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $5.80 annualized dividend and a dividend yield of 2.88%. Cummins’s payout ratio is presently 43.15%.

In other news, CEO Norman Thomas Linebarger sold 37,510 shares of Cummins stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $207.09, for a total transaction of $7,767,945.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Franklin R. Changdiaz sold 1,000 shares of Cummins stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $203.99, for a total value of $203,990.00. The disclosure for this sale can be found here. Insiders sold a total of 54,001 shares of company stock valued at $11,154,052 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on CMI shares. UBS Group lowered shares of Cummins from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $260.00 to $214.00 in a research note on Friday, March 18th. Zacks Investment Research raised shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 price objective on the stock in a report on Friday, April 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Credit Suisse Group dropped their price objective on shares of Cummins from $304.00 to $270.00 in a report on Wednesday, May 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $255.27.

Cummins Company 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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