Cummins Inc. (NYSE:CMI) Shares Bought by Huntington National Bank

Huntington National Bank grew its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 59.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,623 shares of the company's stock after acquiring an additional 4,329 shares during the period. Huntington National Bank's holdings in Cummins were worth $4,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares in the last quarter. KG&L Capital Management LLC raised its position in shares of Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after acquiring an additional 28 shares in the last quarter. Signaturefd LLC boosted its position in Cummins by 0.9% during the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after purchasing an additional 28 shares in the last quarter. Massachusetts Wealth Management grew its stake in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after purchasing an additional 30 shares during the last quarter. Finally, Avestar Capital LLC raised its holdings in Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company's stock worth $344,000 after purchasing an additional 31 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

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Cummins Stock Performance

Shares of CMI traded down $4.90 during trading hours on Monday, hitting $272.72. The stock had a trading volume of 1,183,523 shares, compared to its average volume of 806,845. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a 50-day moving average price of $345.89 and a 200 day moving average price of $348.94. Cummins Inc. has a fifty-two week low of $261.51 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the company posted $4.14 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's payout ratio is currently 25.84%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CMI. Robert W. Baird raised their price target on shares of Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on Cummins from $420.00 to $375.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Citigroup lowered their price target on Cummins from $430.00 to $360.00 and set a "buy" rating for the company in a report on Monday, March 31st. UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and cut their price target for the company from $400.00 to $240.00 in a research note on Monday. Finally, Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $370.33.

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.