Altshuler Shaham Ltd Purchases 1,154 Shares of Cummins Inc. (NYSE:CMI)

Altshuler Shaham Ltd boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 40.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,016 shares of the company’s stock after purchasing an additional 1,154 shares during the quarter. Altshuler Shaham Ltd’s holdings in Cummins were worth $962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Wealthspire Advisors LLC lifted its holdings in Cummins by 15.5% during the 4th quarter. Wealthspire Advisors LLC now owns 2,170 shares of the company’s stock worth $520,000 after purchasing an additional 291 shares during the last quarter. Segantii Capital Management Ltd acquired a new stake in Cummins during the 4th quarter worth approximately $2,670,000. Townsend & Associates Inc grew its holdings in Cummins by 72.4% during the 4th quarter. Townsend & Associates Inc now owns 60,301 shares of the company’s stock worth $14,219,000 after acquiring an additional 25,326 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Cummins by 4.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 54,905 shares of the company’s stock valued at $13,154,000 after acquiring an additional 2,127 shares during the last quarter. Finally, Everpar Advisors LLC acquired a new position in shares of Cummins during the fourth quarter worth $249,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 1.9 %

NYSE:CMI traded up $5.52 during trading hours on Thursday, reaching $294.58. The company’s stock had a trading volume of 626,980 shares, compared to its average volume of 2,513,304. The firm has a 50-day simple moving average of $286.48 and a 200-day simple moving average of $254.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly 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 net margin of 5.70% and a return on equity of 25.38%. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the firm posted $4.52 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts expect that Cummins Inc. will post 18.45 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. Cummins’s payout ratio is 49.19%.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup upped their target price on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. Finally, Evercore ISI boosted their price objective on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $282.55.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,169 shares of company stock worth $14,689,855. 0.56% of the stock is currently owned by insiders.

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.