Zurcher Kantonalbank Zurich Cantonalbank Buys 1,134 Shares of Cummins Inc. (NYSE:CMI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cummins Inc. (NYSE:CMI) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,419 shares of the company’s stock after acquiring an additional 1,134 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Cummins worth $17,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Eagle Bluffs Wealth Management LLC increased its stake in Cummins by 1.4% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 6,160 shares of the company’s stock valued at $1,476,000 after acquiring an additional 84 shares during the period. Hamilton Point Investment Advisors LLC increased its stake in Cummins by 1.4% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 19,039 shares of the company’s stock valued at $4,561,000 after acquiring an additional 262 shares during the period. Flputnam Investment Management Co. boosted its position in Cummins by 5.8% in the fourth quarter. Flputnam Investment Management Co. now owns 17,361 shares of the company’s stock valued at $4,159,000 after buying an additional 945 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new position in Cummins in the fourth quarter valued at about $431,000. Finally, B&D White Capital Company LLC acquired a new position in Cummins in the fourth quarter valued at about $551,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI boosted their price target on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. TD Cowen upped their target price on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley began coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average target price of $279.70.

Insider Buying and Selling

In related news, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel William Fisher bought 562 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $266.57 per share, with a total value of $149,812.34. Following the transaction, the director now owns 1,068 shares of the company’s stock, valued at approximately $284,696.76. The disclosure for this purchase can be found here. Insiders have sold a total of 51,289 shares of company stock worth $13,576,838 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Cummins Trading Up 0.0 %

CMI opened at $291.42 on Friday. The firm’s fifty day moving average is $279.54 and its two-hundred day moving average is $247.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm has a market cap of $39.85 billion, a PE ratio of 56.26, a price-to-earnings-growth ratio of 2.01 and a beta of 1.04. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $4.52 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 18.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.31%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.