Cummins Inc. (NYSE:CMI) Shares Purchased by Dohj LLC

Dohj LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 14.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,358 shares of the company’s stock after buying an additional 171 shares during the quarter. Dohj LLC’s holdings in Cummins were worth $325,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. OFI Invest Asset Management acquired a new position in shares of Cummins during the 3rd quarter worth approximately $25,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the third quarter worth $28,000. Global Wealth Strategies & Associates purchased a new position in Cummins during the third quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Cummins in the third quarter valued at about $39,000. Finally, Peoples Bank KS purchased a new stake in shares of Cummins during the third quarter worth about $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.2 %

Shares of NYSE CMI traded down $0.47 during midday trading on Friday, reaching $291.14. 480,216 shares of the stock were exchanged, compared to its average volume of 917,274. The stock has a market capitalization of $39.82 billion, a P/E ratio of 56.20, a PEG ratio of 1.98 and a beta of 1.04. 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 50 day simple moving average of $283.34 and a 200 day simple moving average of $250.62. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the business earned $4.52 EPS. Cummins’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.31%. Cummins’s dividend payout ratio (DPR) is currently 129.73%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer Rumsey sold 739 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $266.91, for a total value of $197,246.49. Following the completion of the sale, the chief executive officer now 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 over the last 90 days. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CMI shares. TD Cowen lifted their price objective on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $243.00 to $225.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. boosted their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Finally, Evercore ISI increased their price objective 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $279.70.

Cummins 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.