SFE Investment Counsel Acquires 192 Shares of Cummins Inc. $CMI

SFE Investment Counsel boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 24,530 shares of the company’s stock after acquiring an additional 192 shares during the period. Cummins accounts for 1.4% of SFE Investment Counsel’s portfolio, making the stock its 20th largest position. SFE Investment Counsel’s holdings in Cummins were worth $8,034,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cummins by 1.9% during the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock worth $5,417,331,000 after purchasing an additional 321,823 shares during the period. Northern Trust Corp boosted its holdings in Cummins by 1.2% during the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock worth $597,170,000 after buying an additional 22,202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cummins by 0.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,634,580 shares of the company’s stock worth $512,343,000 after buying an additional 8,487 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Cummins by 152.3% during the 1st quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock worth $424,414,000 after buying an additional 817,384 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Cummins by 11.6% in the 1st quarter. Invesco Ltd. now owns 1,215,956 shares of the company’s stock valued at $381,129,000 after acquiring an additional 126,362 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 2.4%

Shares of CMI stock opened at $474.10 on Friday. The firm’s fifty day moving average price is $420.80 and its two-hundred day moving average price is $369.17. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $482.53. The firm has a market capitalization of $65.32 billion, a P/E ratio of 22.29, a PEG ratio of 2.05 and a beta of 1.07.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.Cummins’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.86 EPS. On average, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.7%. Cummins’s payout ratio is 41.52%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore ISI reissued an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Sanford C. Bernstein restated a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a report on Monday, August 11th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $428.93.

Insider Buying and Selling

In other news, VP Amy Rochelle Davis sold 5,002 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the completion of the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This represents a 19.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Andrew Smith sold 200 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $449.10, for a total transaction of $89,820.00. Following the transaction, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,183,476.20. The trade was a 0.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 37,949 shares of company stock worth $15,674,705. 0.41% of the stock is currently owned by company 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.