Cummins Inc. $CMI Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its stake in Cummins Inc. (NYSE:CMI) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,267 shares of the company’s stock after buying an additional 806 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cummins were worth $55,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its stake in Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Cummins during the fourth quarter worth about $26,000. Activest Wealth Management increased its position in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Cummins in the 4th quarter valued at about $27,000. Finally, Key Financial Inc boosted its position in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on CMI. Argus raised their price target on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Raymond James Financial raised their target price on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Finally, Citigroup upped their price target on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $738.00.

Insider Buying and Selling at Cummins

In other Cummins news, EVP Bonnie J. Fetch sold 652 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the transaction, the executive vice president directly owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the transaction, the vice president owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $676.93 on Monday. The stock has a market capitalization of $93.41 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. Cummins Inc. has a 52-week low of $334.70 and a 52-week high of $737.76. The stock’s 50-day moving average price is $679.54 and its 200 day moving average price is $609.98. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm earned $5.96 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Cummins Inc. will post 29.32 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s dividend payout ratio is 41.52%.

Cummins 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.