Heartland Bank & Trust Co Lowers Position in Cummins Inc. $CMI

Heartland Bank & Trust Co lowered its holdings in Cummins Inc. (NYSE:CMI) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,599 shares of the company’s stock after selling 40 shares during the period. Heartland Bank & Trust Co’s holdings in Cummins were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Orca Wealth Management LLC increased its position in shares of Cummins by 0.6% during the 2nd quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after purchasing an additional 28 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of Cummins by 1.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock worth $1,076,000 after buying an additional 31 shares during the last quarter. Bank of Jackson Hole Trust grew its position in shares of Cummins by 1.2% in the 1st quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock worth $887,000 after buying an additional 33 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Cummins by 0.5% in the 1st quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock worth $2,104,000 after buying an additional 34 shares during the last quarter. Finally, Van Hulzen Asset Management LLC boosted its position in shares of Cummins by 1.2% during the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock valued at $872,000 after purchasing an additional 34 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the sale, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. The trade was a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the completion of the sale, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. This represents a 19.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,119 shares of company stock valued at $17,674,285 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $409.17 on Tuesday. The firm has a market capitalization of $56.38 billion, a PE ratio of 19.24, a P/E/G ratio of 1.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. The stock has a 50-day simple moving average of $408.16 and a two-hundred day simple moving average of $350.37. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $440.51.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $1.22. The firm had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.26 earnings per share. Analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMI. Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a research report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a research note on Saturday, September 27th. Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, September 3rd. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Barclays boosted their price target on Cummins from $381.00 to $387.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $397.43.

Cummins Profile

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.