Cummins Inc. (CMI) Shares Bought by Security National Bank of SO Dak

Security National Bank of SO Dak boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,856 shares of the company’s stock after purchasing an additional 90 shares during the period. Security National Bank of SO Dak’s holdings in Cummins were worth $788,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Security National Bank of Sioux City Iowa IA grew its position in Cummins by 1.7% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 5,639 shares of the company’s stock worth $915,000 after purchasing an additional 95 shares during the last quarter. Scotia Capital Inc. grew its position in Cummins by 110.9% during the 2nd quarter. Scotia Capital Inc. now owns 15,811 shares of the company’s stock worth $2,565,000 after purchasing an additional 8,314 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its position in Cummins by 23.6% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 14,035 shares of the company’s stock worth $2,283,000 after purchasing an additional 2,680 shares during the last quarter. 361 Capital LLC purchased a new stake in Cummins during the 2nd quarter worth approximately $8,995,000. Finally, The Manufacturers Life Insurance Company grew its position in Cummins by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 183,408 shares of the company’s stock worth $29,752,000 after purchasing an additional 7,803 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors.

Shares of Cummins Inc. (NYSE CMI) traded up 0.38% during mid-day trading on Tuesday, reaching $172.40. 216,452 shares of the company were exchanged. The stock has a market capitalization of $28.79 billion, a P/E ratio of 19.49 and a beta of 1.13. Cummins Inc. has a 12 month low of $121.22 and a 12 month high of $172.83. The stock has a 50 day moving average price of $163.46 and a 200-day moving average price of $158.74.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.05). Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts predict that Cummins Inc. will post $7.98 earnings per share for the current year.

CMI has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Cummins from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Thursday, June 15th. Deutsche Bank AG upped their price objective on shares of Cummins from $139.00 to $142.00 and gave the company a “sell” rating in a report on Tuesday, July 4th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $166.00 price objective on shares of Cummins in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $161.00 price objective on shares of Cummins in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Cummins currently has an average rating of “Hold” and a consensus target price of $164.52.

In related news, insider Jill E. Cook sold 7,000 shares of Cummins stock in a transaction on Monday, July 24th. The shares were sold at an average price of $165.86, for a total value of $1,161,020.00. Following the transaction, the insider now directly owns 9,671 shares in the company, valued at approximately $1,604,032.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tony Satterthwaite sold 4,000 shares of Cummins stock in a transaction on Tuesday, July 25th. The shares were 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 owns 41,902 shares in the company, valued at $7,081,438. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,633 shares of company stock worth $2,942,108. 0.62% of the stock is currently owned by insiders.

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About Cummins

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.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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