OLD Second National Bank of Aurora Has $5.47 Million Holdings in Cummins Inc. (NYSE:CMI)

OLD Second National Bank of Aurora decreased its position in Cummins Inc. (NYSE:CMI) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,885 shares of the company’s stock after selling 118 shares during the period. Cummins makes up 1.3% of OLD Second National Bank of Aurora’s holdings, making the stock its 21st biggest holding. OLD Second National Bank of Aurora’s holdings in Cummins were worth $5,467,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,193 shares of company stock worth $9,685,552. 0.56% of the stock is owned by corporate insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $355.07 on Wednesday. Cummins Inc. has a fifty-two week low of $216.91 and a fifty-two week high of $370.21. The company’s 50-day moving average is $324.91 and its 200 day moving average is $300.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market capitalization of $48.71 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $4.73 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 20.48 earnings per share for the current year.

Cummins Announces Dividend

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

About Cummins

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.