Crossmark Global Holdings Inc. Takes Position in Cummins Inc. (CMI)
Crossmark Global Holdings Inc. purchased a new position in Cummins Inc. (NYSE:CMI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,095 shares of the company’s stock, valued at approximately $2,704,000.
A number of other large investors also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its holdings in Cummins by 12.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 87,585 shares of the company’s stock worth $14,718,000 after purchasing an additional 9,429 shares during the period. IFC Holdings Incorporated FL grew its holdings in Cummins by 23.2% in the third quarter. IFC Holdings Incorporated FL now owns 11,146 shares of the company’s stock worth $1,872,000 after purchasing an additional 2,099 shares during the period. Korea Investment CORP grew its holdings in Cummins by 1.1% in the third quarter. Korea Investment CORP now owns 170,574 shares of the company’s stock worth $28,662,000 after purchasing an additional 1,900 shares during the period. Aperio Group LLC grew its holdings in Cummins by 3.5% in the third quarter. Aperio Group LLC now owns 129,974 shares of the company’s stock worth $21,840,000 after purchasing an additional 4,341 shares during the period. Finally, Davis R M Inc. acquired a new position in shares of Cummins during the third quarter valued at about $269,000. Institutional investors and hedge funds own 81.05% of the company’s stock.
In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total value of $260,087.91. Following the sale, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.
A number of research analysts have recently issued reports on CMI shares. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Buckingham Research started coverage on shares of Cummins in a report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective for the company. Piper Jaffray Companies reiterated a “hold” rating and set a $159.00 price objective on shares of Cummins in a report on Tuesday, September 12th. Finally, Longbow Research cut shares of Cummins from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $168.91.
Shares of Cummins Inc. (NYSE CMI) opened at $173.07 on Friday. The company has a market cap of $28,723.91, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.15. Cummins Inc. has a 12-month low of $121.43 and a 12-month high of $181.79.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.47 by $0.24. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 earnings per share. equities analysts forecast that Cummins Inc. will post 10.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 16th. Cummins’s dividend payout ratio is 43.86%.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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