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

Atlas Brown Inc. grew its stake in Cummins Inc. (NYSE:CMI) by 147.4% during the 4th quarter, according to the company in its most recent disclosure 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CMI. Prospera Private Wealth LLC acquired a new stake in Cummins in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins during the third quarter worth approximately $55,000. Bangor Savings Bank raised its stake in Cummins by 24.6% in the 4th 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 last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Cummins in the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMI. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Robert W. Baird raised their target price 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. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup lifted their price objective on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Hold” and a consensus target price of $363.50.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Cummins Trading Down 1.3 %

NYSE:CMI traded down $4.75 during trading hours on Friday, reaching $355.00. 360,663 shares of the stock were exchanged, compared to its average volume of 510,728. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The business has a 50-day moving average of $361.38 and a two-hundred day moving average of $323.95. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.80 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

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. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the business posted $4.73 EPS. On average, equities analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. 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 presently 48.08%.

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.