Commerce Bank Has $5.95 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Commerce Bank trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,369 shares of the company’s stock after selling 105 shares during the quarter. Commerce Bank’s holdings in Cummins were worth $5,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. MWA Asset Management lifted its position in Cummins by 2.0% during the 3rd quarter. MWA Asset Management now owns 3,676 shares of the company’s stock worth $1,190,000 after acquiring an additional 72 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins in the third quarter valued at $32,000. Avior Wealth Management LLC increased its holdings in shares of Cummins by 44.9% during the third quarter. Avior Wealth Management LLC now owns 342 shares of the company’s stock worth $111,000 after buying an additional 106 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cummins in the third quarter valued at about $4,883,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Cummins by 27.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 16,727 shares of the company’s stock worth $5,416,000 after buying an additional 3,567 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMI. Barclays increased their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Citigroup increased their target price on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cummins has a consensus rating of “Hold” and an average target price of $337.67.

Cummins Trading Up 2.3 %

NYSE CMI opened at $369.13 on Friday. Cummins Inc. has a 12 month low of $220.02 and a 12 month high of $370.64. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $334.37 and a 200-day moving average of $303.79. The company has a market cap of $50.64 billion, a PE ratio of 24.38, a PEG ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its quarterly 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 firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $4.73 earnings per share. On average, equities research analysts anticipate that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,326 shares of company stock valued at $1,559,125 over the last three months. Insiders own 0.56% of the company’s stock.

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.