OLD Second National Bank of Aurora Sells 118 Shares of Cummins Inc. (NYSE:CMI)

OLD Second National Bank of Aurora decreased its position in Cummins Inc. (NYSE:CMI) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,885 shares of the company’s stock after selling 118 shares during the quarter. Cummins accounts for 1.3% of OLD Second National Bank of Aurora’s portfolio, making the stock its 21st largest position. OLD Second National Bank of Aurora’s holdings in Cummins were worth $5,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CMI. Haverford Trust Co boosted its stake in shares of Cummins by 6.2% in the 3rd quarter. Haverford Trust Co now owns 1,740 shares of the company’s stock valued at $563,000 after purchasing an additional 102 shares in the last quarter. Victory Capital Management Inc. boosted its position in Cummins by 25.4% during the third quarter. Victory Capital Management Inc. now owns 217,689 shares of the company’s stock valued at $70,486,000 after buying an additional 44,027 shares during the period. Delta Financial Advisors LLC boosted its position in Cummins by 8.9% during the third quarter. Delta Financial Advisors LLC now owns 6,425 shares of the company’s stock valued at $2,080,000 after buying an additional 526 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Cummins during the third quarter valued at about $55,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Cummins by 18.7% in the third quarter. Los Angeles Capital Management LLC now owns 40,482 shares of the company’s stock worth $13,108,000 after buying an additional 6,371 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent research reports. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Truist Financial boosted their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $334.33.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,456,419.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,456,419.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,193 shares of company stock worth $9,685,552. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $355.07 on Wednesday. The company has a 50 day simple moving average of $324.91 and a two-hundred day simple moving average of $300.14. The company has a market capitalization of $48.71 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.76 and a beta of 0.97. Cummins Inc. has a fifty-two week low of $216.91 and a fifty-two week high of $370.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (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 business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the company earned $4.73 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 20.48 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 48.08%.

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.