Crossmark Global Holdings Inc. Cuts Stake in Cummins Inc. (NYSE:CMI)

Crossmark Global Holdings Inc. lowered its stake in Cummins Inc. (NYSE:CMI - Free Report) by 48.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,020 shares of the company's stock after selling 7,624 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Cummins were worth $2,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Capital LLC boosted its stake in Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock worth $1,065,000 after purchasing an additional 30 shares during the last quarter. Equitable Trust Co. lifted its position in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company's stock valued at $298,000 after buying an additional 32 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Cummins by 0.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company's stock worth $1,488,000 after buying an additional 35 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock valued at $520,000 after purchasing an additional 35 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock valued at $340,000 after buying an additional 38 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sharon R. Barner sold 4,780 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company's stock, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 162 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company's stock, valued at $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,193 shares of company stock valued at $9,685,552. 0.56% of the stock is currently owned by company insiders.

Cummins Price Performance

CMI stock traded up $11.26 during trading on Wednesday, hitting $366.34. 960,094 shares of the stock traded hands, compared to its average volume of 1,489,289. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21. The stock has a market cap of $50.25 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.75 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $324.91 and a 200 day simple moving average of $300.14.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts' consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter last year, the company posted $4.73 earnings per share. Cummins's quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Cummins Inc. will post 20.44 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.99%. Cummins's dividend payout ratio (DPR) is presently 48.08%.

Analyst Ratings Changes

CMI has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Evercore ISI upgraded Cummins from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $294.00 to $408.00 in a report on Wednesday. Citigroup raised their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Barclays upped their price target on Cummins from $259.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $334.33.

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.