SFE Investment Counsel Sells 1,153 Shares of Cummins Inc. (NYSE:CMI)

SFE Investment Counsel trimmed its stake in Cummins Inc. (NYSE:CMI) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,736 shares of the company’s stock after selling 1,153 shares during the period. Cummins accounts for approximately 1.9% of SFE Investment Counsel’s holdings, making the stock its 15th largest position. SFE Investment Counsel’s holdings in Cummins were worth $8,972,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. PFG Investments LLC increased its position in Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after buying an additional 485 shares in the last quarter. Mariner Investment Group LLC bought a new position in shares of Cummins during the 4th quarter valued at approximately $1,046,000. Alpha DNA Investment Management LLC bought a new stake in Cummins during the 3rd quarter worth approximately $748,000. Franklin Resources Inc. lifted its holdings in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Finally, Dupree Financial Group LLC bought a new position in shares of Cummins in the third quarter worth approximately $3,925,000. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CMI shares. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $383.08.

Cummins Stock Performance

NYSE:CMI opened at $364.08 on Thursday. The company has a market cap of $49.94 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 1 year low of $250.90 and a 1 year high of $387.90. The stock’s 50 day simple moving average is $361.39 and its two-hundred day simple moving average is $337.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $4.14 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.00%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

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.