Cummins Inc. (NYSE:CMI) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 29.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,149 shares of the company’s stock after selling 487 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Cummins were worth $372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. PFG Investments LLC boosted its position in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares in the last quarter. CWM LLC boosted its position in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after purchasing an additional 1,786 shares during the period. Distillate Capital Partners LLC boosted its position in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after purchasing an additional 59,027 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Cummins in the 2nd quarter valued at about $16,329,000. Finally, Cetera Advisors LLC boosted its position in shares of Cummins by 162.9% in the 1st quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock valued at $6,739,000 after purchasing an additional 14,170 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CMI. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $294.00 to $408.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $334.33.

Insider Activity

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,576 shares of company stock valued at $9,033,945 over the last quarter. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $361.85 on Friday. Cummins Inc. has a fifty-two week low of $220.02 and a fifty-two week high of $370.21. The stock has a market cap of $49.64 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. The business has a fifty day moving average of $327.55 and a 200-day moving average of $301.04. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.73 earnings per share. As a group, analysts predict that Cummins Inc. will post 20.61 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio 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.