Community Bank N.A. Has $2.73 Million Stake in Cummins Inc. (NYSE:CMI)

Community Bank N.A. trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,385 shares of the company’s stock after selling 50 shares during the period. Community Bank N.A.’s holdings in Cummins were worth $2,727,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $25,000. Silver Oak Securities Incorporated acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $39,000. Finally, Peoples Bank KS acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $43,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CMI shares. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group raised their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the company from $254.00 to $321.00 in a report on Friday, March 15th. Finally, Evercore ISI boosted their price target on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $279.70.

Cummins Stock Down 0.1 %

CMI traded down $0.28 during trading on Wednesday, hitting $292.42. 760,636 shares of the company’s stock were exchanged, compared to its average volume of 2,740,257. The stock has a market cap of $39.99 billion, a P/E ratio of 56.45, a PEG ratio of 1.97 and a beta of 1.04. The business’s 50 day moving average is $282.33 and its two-hundred day moving average is $249.89. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results 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). The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.52 EPS. As a group, equities analysts expect that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction 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 $4,685,847.84. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 over the last three months. 0.56% of the stock is currently owned by insiders.

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.