Crossmark Global Holdings Inc. Sells 7,624 Shares of Cummins Inc. (NYSE:CMI)

Crossmark Global Holdings Inc. decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 48.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,020 shares of the company’s stock after selling 7,624 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cummins were worth $2,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Envestnet Portfolio Solutions Inc. raised its position in shares of Cummins by 22.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,723 shares of the company’s stock valued at $1,686,000 after acquiring an additional 1,061 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Cummins by 4.0% in the 1st quarter. Bleakley Financial Group LLC now owns 7,890 shares of the company’s stock valued at $2,325,000 after buying an additional 302 shares in the last quarter. Koshinski Asset Management Inc. increased its position in shares of Cummins by 59.5% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,496 shares of the company’s stock valued at $441,000 after buying an additional 558 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Cummins by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 165,256 shares of the company’s stock valued at $48,693,000 after buying an additional 7,470 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its position in shares of Cummins by 3.1% in the 1st quarter. Texas Yale Capital Corp. now owns 3,280 shares of the company’s stock valued at $966,000 after buying an additional 100 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMI. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Citigroup upped their price objective on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $324.83.

Cummins Trading Down 0.9 %

Cummins stock opened at $355.07 on Wednesday. The firm has a 50-day moving average of $323.90 and a 200-day moving average of $299.69. Cummins Inc. has a one year low of $216.91 and a one year high of $370.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market cap of $48.71 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business posted $4.73 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Cummins Inc. will post 20.32 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. Cummins’s dividend payout ratio is 48.08%.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,193 shares of company stock worth $9,685,552 in the last three months. Insiders own 0.56% of the company’s stock.

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.