Cummins Inc. (NYSE:CMI) Shares Acquired by Atlas Brown Inc.

Atlas Brown Inc. lifted its position in Cummins Inc. (NYSE:CMI) by 147.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,208 shares of the company’s stock after purchasing an additional 3,103 shares during the quarter. Atlas Brown Inc.’s holdings in Cummins were worth $1,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Cummins during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC acquired a new stake in Cummins during the 3rd quarter worth $55,000. Bangor Savings Bank increased its stake in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Cummins in the second quarter valued at about $67,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 6,489 shares of company stock valued at $2,357,531 in the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CMI shares. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average target price of $363.50.

Cummins Price Performance

CMI traded down $4.75 during midday trading on Friday, reaching $355.00. 360,663 shares of the company’s stock were exchanged, compared to its average volume of 510,728. The business’s 50-day moving average price is $361.38 and its 200 day moving average price is $323.95. The stock has a market capitalization of $48.70 billion, a PE ratio of 23.45, a P/E/G ratio of 1.80 and a beta of 1.01. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the firm earned $4.73 EPS. Cummins’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Cummins Company 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.