NBC Securities Inc. Raises Holdings in Cummins Inc. (NYSE:CMI)

NBC Securities Inc. raised its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 113,900.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,140 shares of the company's stock after purchasing an additional 1,139 shares during the period. NBC Securities Inc.'s holdings in Cummins were worth $357,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Cummins in the first quarter worth approximately $527,000. Czech National Bank boosted its stake in shares of Cummins by 6.2% in the first quarter. Czech National Bank now owns 31,577 shares of the company's stock worth $9,897,000 after acquiring an additional 1,833 shares during the last quarter. JGP Wealth Management LLC boosted its stake in shares of Cummins by 2.7% in the first quarter. JGP Wealth Management LLC now owns 3,831 shares of the company's stock worth $1,201,000 after acquiring an additional 99 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Cummins by 3.9% in the first quarter. Rhumbline Advisers now owns 283,522 shares of the company's stock worth $88,867,000 after acquiring an additional 10,560 shares during the last quarter. Finally, Bowman & Co S.C. acquired a new stake in shares of Cummins in the first quarter worth approximately $761,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were acquired 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 now directly owns 2,441 shares of the company's stock, valued at $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by insiders.

Cummins Stock Performance

Shares of CMI stock traded down $0.65 during trading hours on Monday, reaching $325.92. 546,935 shares of the company's stock were exchanged, compared to its average volume of 798,087. The company has a market cap of $44.90 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. The company's 50 day moving average is $304.43 and its two-hundred day moving average is $337.84. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $387.90. 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 (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 analysts' consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.08 EPS. Equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, May 23rd. Cummins's dividend payout ratio is currently 36.22%.

Analyst Ratings Changes

CMI has been the topic of a number of recent research reports. Citigroup boosted their price objective on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Evercore ISI cut their price objective on 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 cut Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Morgan Stanley boosted their target price on Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group raised Cummins from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $410.00 to $431.00 in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $357.25.

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.