Atwater Malick LLC Has $12.26 Million Holdings in Cummins Inc. $CMI

Key Points

• Atwater Malick LLC trimmed its holdings in Cummins by 15.6%, selling 4,450 shares and leaving 24,025 shares valued at $12.26 million, which represents about 3.4% of its portfolio and is its 13th largest position.
• Cummins reported an earnings beat with $5.81 EPS vs. $5.17 expected and $8.54B revenue vs. $8.09B expected, and analysts hold a "Moderate Buy" consensus with an average price target of $598.47.
• Insiders sold 31,195 shares worth roughly $18.4 million in the last quarter (insiders own 0.41%), while institutional investors control 83.46% of the company's stock.

Atwater Malick LLC trimmed its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,025 shares of the company's stock after selling 4,450 shares during the period. Cummins comprises about 3.4% of Atwater Malick LLC's holdings, making the stock its 13th largest position. Atwater Malick LLC's holdings in Cummins were worth $12,264,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CMI. Boston Partners bought a new position in shares of Cummins in the third quarter valued at $473,471,000. London Co. of Virginia bought a new position in shares of Cummins in the third quarter valued at $231,732,000. Bank of New York Mellon Corp lifted its stake in shares of Cummins by 50.8% in the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company's stock valued at $612,715,000 after buying an additional 488,430 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Cummins by 103.8% in the fourth quarter. Nordea Investment Management AB now owns 546,540 shares of the company's stock valued at $280,397,000 after buying an additional 278,350 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in shares of Cummins during the third quarter valued at approximately $91,147,000. 83.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CMI shares. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the company a "market perform" rating in a research report on Friday, February 6th. Citigroup lifted their target price on Cummins from $630.00 to $710.00 and gave the company a "buy" rating in a research report on Monday. Argus set a $696.00 target price on Cummins in a research report on Tuesday, February 10th. UBS Group set a $565.00 target price on Cummins and gave the company a "neutral" rating in a research report on Friday, February 6th. Finally, Wolfe Research cut Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 target price on the stock. in a research report on Monday, January 26th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has an average rating of "Moderate Buy" and a consensus price target of $598.47.

Insider Transactions at Cummins

In other news, VP Jennifer Mary Bush sold 4,270 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Earl Newsome sold 1,300 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the transaction, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is owned by insiders.

Cummins Stock Up 0.4%

Shares of NYSE CMI opened at $618.77 on Tuesday. Cummins Inc. has a one year low of $269.24 and a one year high of $620.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The business's fifty day moving average price is $568.77 and its 200-day moving average price is $518.28. The stock has a market capitalization of $85.49 billion, a PE ratio of 30.15, a P/E/G ratio of 1.95 and a beta of 1.14.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $0.64. The business had revenue of $8.54 billion for the quarter, compared to analysts' expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.16 EPS. On average, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.3%. Cummins's dividend payout ratio (DPR) is presently 38.99%.

Cummins Company Profile

Cummins Inc NYSE: CMI is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world's leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company's product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

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