Stonebrook Private Inc. Purchases Shares of 4,641 Cummins Inc. (NYSE:CMI)

Stonebrook Private Inc. purchased a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,641 shares of the company's stock, valued at approximately $1,455,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 52 shares during the period. TCTC Holdings LLC bought a new position in Cummins during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. bought a new position in Cummins during the fourth quarter worth about $30,000. Olde Wealth Management LLC bought a new position in Cummins during the first quarter worth about $30,000. Finally, Capital A Wealth Management LLC bought a new position in Cummins during the fourth quarter worth about $32,000. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CMI shares. UBS Group downgraded shares of Cummins from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $400.00 to $240.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Morgan Stanley increased their price objective on shares of Cummins from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group upgraded shares of Cummins from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $410.00 to $431.00 in a research note on Tuesday, May 27th. Finally, Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $361.42.

Cummins Trading Down 0.4%

NYSE:CMI traded down $1.28 during mid-day trading on Friday, hitting $338.75. 632,089 shares of the company's stock were exchanged, compared to its average volume of 775,756. The company has a 50 day simple moving average of $323.43 and a 200-day simple moving average of $330.92. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a market capitalization of $46.67 billion, a P/E ratio of 16.85, a PEG ratio of 2.04 and a beta of 1.03.

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

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a $1.82 dividend. The ex-dividend date was Friday, May 23rd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.15%. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone acquired 1,000 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $332.08 per share, for a total transaction of $332,080.00. Following the purchase, the director directly owned 2,441 shares of the company's stock, valued at $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Cummins Company 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.