Benjamin Edwards Inc. decreased its stake in Cummins Inc. (NYSE:CMI – Free Report) by 8.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,379 shares of the company’s stock after selling 422 shares during the quarter. Benjamin Edwards Inc.’s holdings in Cummins were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Coldstream Capital Management Inc. lifted its stake in Cummins by 17.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,526 shares of the company’s stock worth $605,000 after acquiring an additional 368 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cummins during the 4th quarter worth about $459,000. Assetmark Inc. raised its stake in shares of Cummins by 6.4% during the 4th quarter. Assetmark Inc. now owns 16,965 shares of the company’s stock worth $4,064,000 after purchasing an additional 1,020 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Cummins by 41.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 344 shares of the company’s stock valued at $82,000 after acquiring an additional 100 shares in the last quarter. Finally, Union Savings Bank raised its stake in shares of Cummins by 12.6% in the 4th quarter. Union Savings Bank now owns 668 shares of the company’s stock valued at $160,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.
Insider Buying and Selling at Cummins
In other 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 directly owns 77,442 shares in the company, valued at $23,870,722.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 directly owns 20,873 shares in the company, valued at $6,269,205.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 $23,870,722.08. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on CMI
Cummins Price Performance
Cummins stock opened at $309.22 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $42.30 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98. Cummins Inc. has a one year low of $212.80 and a one year high of $322.83. The business has a 50 day simple moving average of $297.25 and a 200 day simple moving average of $287.97.
Cummins (NYSE:CMI – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping the consensus estimate of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter last year, the company earned $5.18 EPS. Cummins’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Cummins Inc. will post 19.66 EPS for the current fiscal year.
Cummins Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were given a dividend of $1.82 per share. This is an increase from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, August 23rd. This represents a $7.28 annualized dividend and a yield of 2.35%. Cummins’s dividend payout ratio is 53.29%.
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.
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