5,701 Shares in Cummins Inc. $CMI Acquired by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA purchased a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, Holdings Channel.com reports. The firm purchased 5,701 shares of the company’s stock, valued at approximately $2,910,000.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC grew its position in Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after acquiring an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC bought a new stake in Cummins in the second quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,397 shares of company stock worth $14,465,833. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CMI shares. Citigroup boosted their target price on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Barclays upped their price objective on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Morgan Stanley upped their price objective on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average target price of $677.87.

Cummins Trading Up 0.3%

Shares of CMI stock opened at $698.36 on Monday. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The stock has a market cap of $96.37 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm has a fifty day moving average of $601.51 and a 200-day moving average of $555.57.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Cummins Inc. will post 28.39 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.