Bell Bank Buys New Shares in Cummins Inc. (NYSE:CMI)

Bell Bank bought a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 608 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT grew its holdings in Cummins by 2.5% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,941 shares of the company’s stock valued at $1,025,000 after purchasing an additional 72 shares during the period. ING Groep NV grew its holdings in Cummins by 34.1% in the fourth quarter. ING Groep NV now owns 19,521 shares of the company’s stock valued at $6,805,000 after purchasing an additional 4,963 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Cummins by 296.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 11,841 shares of the company’s stock valued at $4,128,000 after purchasing an additional 8,851 shares during the period. Advyzon Investment Management LLC acquired a new position in Cummins during the fourth quarter valued at approximately $232,000. Finally, Handelsbanken Fonder AB lifted its position in Cummins by 6.6% during the fourth quarter. Handelsbanken Fonder AB now owns 4,067 shares of the company’s stock valued at $1,418,000 after buying an additional 252 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CMI shares. Jefferies Financial Group lifted their price target 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 lifted their price target on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $386.67.

Cummins Stock Down 4.6 %

CMI stock opened at $366.79 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The firm has a fifty day moving average price of $361.51 and a two-hundred day moving average price of $342.05. The firm has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.19 and a beta of 1.00.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.14 earnings per share. Research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.98%. Cummins’s dividend payout ratio is currently 25.84%.

Cummins 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.