Crossmark Global Holdings Inc. Has $3.78 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Crossmark Global Holdings Inc. grew its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,049 shares of the company's stock after buying an additional 1,882 shares during the period. Crossmark Global Holdings Inc.'s holdings in Cummins were worth $3,777,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after purchasing an additional 28 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of Cummins by 1.2% during the 4th quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock valued at $856,000 after purchasing an additional 28 shares during the last quarter. Mindset Wealth Management LLC grew its holdings in shares of Cummins by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 2,076 shares of the company's stock valued at $724,000 after purchasing an additional 35 shares during the last quarter. Garrison Point Advisors LLC grew its holdings in shares of Cummins by 1.1% during the 4th quarter. Garrison Point Advisors LLC now owns 3,190 shares of the company's stock valued at $1,112,000 after purchasing an additional 35 shares during the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Cummins by 2.7% during the 4th quarter. Ascent Group LLC now owns 1,417 shares of the company's stock valued at $494,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Trading Down 0.4%

Shares of NYSE CMI traded down $1.28 during midday trading on Friday, reaching $338.75. The stock had a trading volume of 632,089 shares, compared to its average volume of 775,520. The firm has a market cap of $46.66 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.81 and a current ratio of 1.34. The company's 50 day moving average price is $323.43 and its 200 day moving average price is $331.08.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a net margin of 8.20% and a return on equity of 26.88%. Cummins's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.08 earnings per share. As a group, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, May 23rd. Cummins's dividend payout ratio is presently 36.22%.

Insider Transactions at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the completion of the acquisition, the director owned 2,441 shares in the company, valued at approximately $810,607.28. This represents a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research reports. Evercore ISI decreased their price target on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Wall Street Zen lowered shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Citigroup reissued a "buy" rating and set a $360.00 target price (up from $350.00) on shares of Cummins in a report on Tuesday, June 24th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised shares of Cummins from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Cummins presently has an average rating of "Hold" and an average price target of $361.42.

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.