Yousif Capital Management LLC Sells 242 Shares of Cummins Inc. $CMI

Yousif Capital Management LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 19,692 shares of the company’s stock after selling 242 shares during the period. Yousif Capital Management LLC’s holdings in Cummins were worth $6,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olde Wealth Management LLC acquired a new stake in Cummins during the 1st quarter worth approximately $30,000. Accredited Wealth Management LLC acquired a new stake in Cummins during the 1st quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new stake in Cummins during the 1st quarter worth approximately $37,000. Richardson Financial Services Inc. acquired a new stake in Cummins during the 1st quarter worth approximately $39,000. Finally, Costello Asset Management INC acquired a new stake in Cummins during the 1st quarter worth approximately $40,000. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CMI has been the topic of several recent research reports. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a research report on Monday, August 11th. Robert W. Baird boosted their price target on shares of Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Citigroup boosted their price target on shares of Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $407.43.

Cummins Stock Up 2.0%

Shares of NYSE CMI opened at $417.31 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $440.51. The company’s 50 day moving average price is $409.04 and its 200-day moving average price is $350.83. The company has a market capitalization of $57.50 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the company earned $5.26 EPS. Cummins’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Insider Activity at Cummins

In related news, CFO Mark Andrew Smith sold 8,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $439.30, for a total transaction of $3,514,400.00. Following the transaction, the chief financial officer owned 31,582 shares in the company, valued at $13,873,972.60. The trade was a 20.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the transaction, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,119 shares of company stock worth $17,674,285 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Cummins Company 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.