WBH Advisory Inc. Trims Stake in Cummins Inc. $CMI

WBH Advisory Inc. reduced its position in Cummins Inc. (NYSE:CMI) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,076 shares of the company’s stock after selling 56 shares during the quarter. WBH Advisory Inc.’s holdings in Cummins were worth $1,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMI. Brighton Jones LLC boosted its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cummins by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 3,801 shares of the company’s stock worth $1,191,000 after purchasing an additional 692 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Cummins by 35.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,658 shares of the company’s stock worth $9,923,000 after purchasing an additional 8,261 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Cummins by 2.4% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,901 shares of the company’s stock worth $596,000 after purchasing an additional 45 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its holdings in shares of Cummins by 9.0% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 1,092 shares of the company’s stock worth $342,000 after purchasing an additional 90 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Luther E. Peters sold 4,850 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $389.19, for a total transaction of $1,887,571.50. Following the completion of the transaction, the vice president owned 7,693 shares of the company’s stock, valued at $2,994,038.67. This represents a 38.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert Enright sold 1,860 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the transaction, the vice president directly owned 955 shares of the company’s stock, valued at $384,158.30. The trade was a 66.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,119 shares of company stock worth $17,674,285 over the last three months. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CMI shares. Wells Fargo & Company upgraded Cummins to an “overweight” rating in a report on Monday, August 11th. JPMorgan Chase & Co. boosted their target price on Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Tuesday, October 14th. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup boosted their target price on Cummins from $425.00 to $485.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $407.43.

Cummins Trading Down 2.6%

CMI opened at $411.84 on Monday. The business has a 50 day simple moving average of $411.10 and a two-hundred day simple moving average of $353.38. The firm has a market capitalization of $56.75 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a one year low of $260.02 and a one year high of $440.51.

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

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. Cummins’s dividend payout ratio is presently 37.61%.

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.