Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in Cummins Inc. (NYSE:CMI)

Livforsakringsbolaget Skandia Omsesidigt increased its position in Cummins Inc. (NYSE:CMI) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,940 shares of the company’s stock after acquiring an additional 106 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cummins were worth $7,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC lifted its stake in Cummins by 3.6% during the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after purchasing an additional 42 shares in the last quarter. KB Financial Partners LLC raised its stake in shares of Cummins by 1.3% in the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after acquiring an additional 45 shares in the last quarter. Edmp Inc. raised its stake in shares of Cummins by 0.8% in the fourth quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after acquiring an additional 46 shares in the last quarter. Spears Abacus Advisors LLC raised its stake in shares of Cummins by 5.1% in the first quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after acquiring an additional 48 shares in the last quarter. Finally, Columbia Trust Co 01012016 raised its stake in shares of Cummins by 1.2% in the third quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock worth $13,576,838 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of CMI traded down $3.22 during mid-day trading on Wednesday, hitting $291.36. 757,180 shares of the company’s stock were exchanged, compared to its average volume of 2,845,953. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The firm has a market capitalization of $39.85 billion, a P/E ratio of 56.87, a P/E/G ratio of 2.02 and a beta of 1.04. The business’s 50 day moving average is $277.85 and its two-hundred day moving average is $247.32. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the company posted $4.52 EPS. Cummins’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts expect that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.31%. Cummins’s dividend payout ratio (DPR) is 129.73%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CMI shares. TD Cowen increased their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. increased their target price on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their target price on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, UBS Group raised Cummins from a “neutral” rating to a “buy” rating and increased their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average target price of $279.70.

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.