Security National Bank of Sioux City Iowa IA boosted its position in shares of Cummins Inc. (NYSE:CMI) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,639 shares of the company’s stock after buying an additional 95 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Cummins were worth $915,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Ingalls & Snyder LLC purchased a new position in Cummins during the first quarter worth $221,000. Northwestern Mutual Investment Management Company LLC boosted its stake in Cummins by 76.6% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 31,271 shares of the company’s stock worth $4,728,000 after buying an additional 13,567 shares during the period. Marietta Wealth Management LLC boosted its stake in Cummins by 1.9% during the first quarter. Marietta Wealth Management LLC now owns 4,073 shares of the company’s stock worth $616,000 after buying an additional 77 shares during the period. Bahl & Gaynor Inc. purchased a new position in Cummins during the first quarter worth $213,000. Finally, Oxford Asset Management purchased a new position in Cummins during the first quarter worth $267,000. 80.38% of the stock is owned by institutional investors.
Cummins Inc. (CMI) traded up 0.38% during mid-day trading on Tuesday, reaching $172.40. 216,385 shares of the company were exchanged. The stock has a market capitalization of $28.79 billion, a price-to-earnings ratio of 19.49 and a beta of 1.13. The stock’s 50-day moving average price is $163.46 and its 200-day moving average price is $158.74. Cummins Inc. has a 1-year low of $121.22 and a 1-year high of $172.83.
CMI has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Cummins from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. Deutsche Bank AG lifted their price objective on shares of Cummins from $139.00 to $142.00 and gave the stock a “sell” rating in a research note on Tuesday, July 4th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a research note on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $166.00 price objective on shares of Cummins in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $161.00 price objective on shares of Cummins in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $164.52.
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In related news, insider Tony Satterthwaite sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total transaction of $676,000.00. Following the completion of the transaction, the insider now directly owns 41,902 shares in the company, valued at approximately $7,081,438. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franklin R. Changdiaz sold 1,633 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total value of $260,087.91. Following the transaction, the director now owns 5,814 shares of the company’s stock, valued at $925,995.78. The disclosure for this sale can be found here. Insiders have sold a total of 17,633 shares of company stock valued at $2,942,108 over the last three months. Corporate insiders own 0.62% of the company’s stock.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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