National Bank of Canada FI Has $25.27 Million Position in Cummins Inc. (NYSE:CMI)

National Bank of Canada FI lowered its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,046 shares of the company's stock after selling 3,137 shares during the period. National Bank of Canada FI owned approximately 0.06% of Cummins worth $25,270,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. bought a new position in Cummins in the 2nd quarter valued at about $28,000. Cultivar Capital Inc. bought a new position in shares of Cummins in the second quarter valued at approximately $28,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the third quarter worth approximately $34,000. Finally, Gradient Investments LLC lifted its position in Cummins by 290.0% in the second quarter. Gradient Investments LLC now owns 156 shares of the company's stock worth $43,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CMI shares. Vertical Research lowered Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday. Finally, Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cummins currently has a consensus rating of "Hold" and an average price target of $352.85.

Cummins Stock Down 1.4 %

Cummins stock traded down $5.55 during mid-day trading on Tuesday, hitting $377.87. The company's stock had a trading volume of 641,313 shares, compared to its average volume of 1,419,781. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The company has a market cap of $51.84 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm's 50 day moving average is $349.67 and its 200 day moving average is $311.38.

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 the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $4.73 earnings per share. On average, analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a dividend of $1.82 per share. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.93%. Cummins's dividend payout ratio is 48.08%.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company's stock.

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.