Cincinnati Insurance Co. Continues to Hold Holding in Cummins Inc. (CMI)

Cincinnati Insurance Co. Continues to Hold Holding in Cummins Inc. (CMI)

Cincinnati Insurance Co. continued to hold its position in shares of Cummins Inc. (NYSE:CMI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 666,500 shares of the company’s stock at the end of the first quarter. Cummins comprises approximately 3.2% of Cincinnati Insurance Co.’s investment portfolio, making the stock its 9th largest position. Cincinnati Insurance Co.’s holdings in Cummins were worth $100,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bank bought a new position in shares of Cummins during the first quarter valued at about $105,000. Cohen Capital Management Inc. acquired a new stake in Cummins during the first quarter valued at $121,000. Itau Unibanco Holding S.A. acquired a new stake in Cummins during the third quarter valued at $114,000. Bessemer Group Inc. increased its stake in Cummins by 851.0% in the fourth quarter. Bessemer Group Inc. now owns 951 shares of the company’s stock valued at $130,000 after buying an additional 851 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in Cummins during the fourth quarter valued at $133,000. Institutional investors own 80.81% of the company’s stock.

Shares of Cummins Inc. (NYSE:CMI) opened at 158.14 on Monday. The stock’s 50 day moving average is $154.14 and its 200-day moving average is $147.59. The stock has a market cap of $26.46 billion, a PE ratio of 18.13 and a beta of 1.27. Cummins Inc. has a 12-month low of $105.33 and a 12-month high of $163.36.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $1.81 by $0.55. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.15 billion. Cummins had a net margin of 7.96% and a return on equity of 19.99%. Cummins’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 EPS. Equities analysts expect that Cummins Inc. will post $7.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 19th were paid a dividend of $1.025 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $4.10 annualized dividend and a dividend yield of 2.59%. Cummins’s dividend payout ratio (DPR) is presently 49.76%.

Several analysts have weighed in on CMI shares. Vetr downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $153.33 price target for the company. in a research note on Thursday, February 9th. Deutsche Bank AG reissued a “sell” rating and issued a $154.00 price target (up from $142.00) on shares of Cummins in a research note on Wednesday, May 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $150.00 price target on shares of Cummins in a research note on Wednesday, April 12th. Credit Suisse Group AG set a $173.00 price target on shares of Cummins and gave the stock a “buy” rating in a research note on Monday, March 27th. Finally, Wells Fargo & Co raised shares of Cummins from a “market perform” rating to an “outperform” rating in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and an average target price of $149.46.

In other Cummins news, VP Anant Talaulicar sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $157.50, for a total transaction of $259,875.00. Following the sale, the vice president now owns 13,029 shares of the company’s stock, valued at approximately $2,052,067.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tony Satterthwaite sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $151.03, for a total transaction of $604,120.00. Following the sale, the insider now directly owns 41,902 shares in the company, valued at approximately $6,328,459.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,576 shares of company stock valued at $6,218,448. 0.57% of the stock is currently owned by company insiders.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CMI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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