12,774 Shares in Cummins Inc. (NYSE:CMI) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC acquired a new stake in Cummins Inc. (NYSE:CMI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,774 shares of the company's stock, valued at approximately $4,453,000.

A number of other institutional investors have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after purchasing an additional 28 shares during the period. KG&L Capital Management LLC raised its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock valued at $1,296,000 after acquiring an additional 28 shares during the period. Chicago Capital LLC lifted its holdings in Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock valued at $1,065,000 after purchasing an additional 30 shares during the last quarter. Massachusetts Wealth Management boosted its position in Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock worth $1,677,000 after purchasing an additional 30 shares during the period. Finally, Equitable Trust Co. raised its position in shares of 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 purchasing an additional 32 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Down 0.4 %

Shares of CMI traded down $1.53 on Tuesday, reaching $372.38. The stock had a trading volume of 580,073 shares, compared to its average volume of 849,258. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a 50-day simple moving average of $361.74 and a 200-day simple moving average of $337.16. Cummins Inc. has a 12-month low of $250.90 and a 12-month high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the business earned $4.14 earnings per share. The business's revenue was down 1.1% on a year-over-year basis. Sell-side analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 1.96%. Cummins's dividend payout ratio (DPR) is 25.84%.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company's stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 4,327 shares of company stock worth $1,582,821. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMI. Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of "Hold" and a consensus target price of $383.08.

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.