Livforsakringsbolaget Skandia Omsesidigt Has $7.41 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,940 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cummins were worth $7,412,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Balentine LLC boosted its holdings in shares of Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after buying an additional 127 shares during the period. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in Cummins in the 3rd quarter valued at $9,048,000. Sequoia Financial Advisors LLC boosted its holdings in Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after purchasing an additional 3,866 shares during the period. Capital Advisors Inc. OK bought a new stake in Cummins in the 4th quarter valued at $24,915,000. Finally, SG Americas Securities LLC boosted its holdings in Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after purchasing an additional 16,869 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

CMI traded down $3.22 during midday trading on Wednesday, hitting $291.36. The company had a trading volume of 757,180 shares, compared to its average volume of 2,845,953. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The company has a market capitalization of $39.85 billion, a PE ratio of 56.87, a P/E/G ratio of 2.02 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The firm’s 50-day simple moving average is $277.85 and its 200-day simple moving average is $247.32.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 18.29 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is 129.73%.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction that occurred 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 transaction, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of Cummins stock in a transaction that occurred 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 transaction, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock valued at $13,576,838 in the last 90 days. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $243.00 to $225.00 in a report on Friday, January 19th. Evercore ISI increased their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $279.70.

Cummins Company Profile

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.