Czech National Bank Buys 1,854 Shares of Cummins Inc. (NYSE:CMI)

Czech National Bank increased its stake in Cummins Inc. (NYSE:CMI) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,918 shares of the company’s stock after buying an additional 1,854 shares during the quarter. Czech National Bank’s holdings in Cummins were worth $9,040,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CMI. Price T Rowe Associates Inc. MD grew its holdings in shares of Cummins by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after purchasing an additional 604,735 shares during the last quarter. Fisher Asset Management LLC boosted its position in Cummins by 4.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,587,895 shares of the company’s stock valued at $619,982,000 after buying an additional 103,018 shares during the period. Dimensional Fund Advisors LP boosted its position in Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock valued at $469,869,000 after buying an additional 26,977 shares during the period. Legal & General Group Plc boosted its position in Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after buying an additional 31,190 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Cummins by 4.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,398,061 shares of the company’s stock valued at $334,933,000 after buying an additional 64,365 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Up 1.3 %

Shares of NYSE CMI traded up $4.39 during trading hours on Friday, hitting $331.74. 691,513 shares of the stock were exchanged, compared to its average volume of 1,615,336. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The company has a market cap of $45.38 billion, a PE ratio of 24.29, a PEG ratio of 1.81 and a beta of 0.98. The firm has a fifty day moving average price of $304.44 and a 200-day moving average price of $291.87. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $333.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. Cummins’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.18 EPS. On average, sell-side analysts expect that Cummins Inc. will post 19.77 EPS for the current year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, August 23rd. This is a positive change from Cummins’s previous quarterly dividend of $1.68. Cummins’s payout ratio is 53.29%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CMI. Citigroup began coverage on shares of Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $275.00 to $285.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Barclays boosted their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $299.55.

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.