Cummins Inc. (NYSE:CMI) Shares Acquired by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 13.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,494 shares of the company’s stock after acquiring an additional 174 shares during the period. First Commonwealth Financial Corp PA’s holdings in Cummins were worth $484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFG Investments LLC lifted its holdings in Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after purchasing an additional 485 shares in the last quarter. CWM LLC increased its stake in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares in the last quarter. Distillate Capital Partners LLC increased its stake in Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after buying an additional 59,027 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Cummins during the second quarter valued at approximately $16,329,000. Finally, Cetera Advisors LLC lifted its position in shares of Cummins by 162.9% in the first quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock valued at $6,739,000 after acquiring an additional 14,170 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.1 %

CMI traded down $0.44 on Wednesday, hitting $376.95. The company had a trading volume of 29,240 shares, compared to its average volume of 1,444,638. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $51.71 billion, a P/E ratio of 24.94, a PEG ratio of 1.82 and a beta of 0.97. The company’s fifty day moving average price is $338.79 and its 200 day moving average price is $305.77. Cummins Inc. has a 1 year low of $222.75 and a 1 year high of $379.66.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $4.73 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Dividend Announcement

The company 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 $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.93%. Cummins’s payout ratio is presently 48.08%.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on CMI shares. JPMorgan Chase & Co. increased their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Robert W. Baird boosted their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $337.67.

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.