Cummins Inc. $CMI Position Lessened by PFG Advisors

PFG Advisors trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 40.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,112 shares of the company’s stock after selling 4,105 shares during the period. PFG Advisors’ holdings in Cummins were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC raised its holdings in shares of Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after acquiring an additional 18 shares in the last quarter. Financial Consulate Inc. raised its holdings in shares of Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after acquiring an additional 18 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after acquiring an additional 19 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock worth $501,000 after acquiring an additional 20 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in shares of Cummins by 2.3% during the fourth quarter. Red Door Wealth Management LLC now owns 878 shares of the company’s stock worth $448,000 after acquiring an additional 20 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 0.3%

Cummins stock opened at $638.75 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The company has a market capitalization of $88.25 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.01 and a beta of 1.14. Cummins Inc. has a one year low of $273.97 and a one year high of $647.00. The company’s fifty day moving average price is $573.03 and its two-hundred day moving average price is $526.56.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 earnings per share. On average, analysts forecast that Cummins Inc. will post 26.03 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio is 38.99%.

Insider Activity at Cummins

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the sale, the vice president directly owned 7,214 shares in the company, valued at $4,329,337.82. This represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the sale, the vice president owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This trade represents a 22.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMI shares. Morgan Stanley reiterated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Wells Fargo & Company increased their price objective on Cummins from $630.00 to $693.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. Robert W. Baird set a $580.00 price objective on Cummins in a report on Friday, February 6th. Argus set a $696.00 target price on shares of Cummins in a research report on Tuesday, February 10th. Finally, Barclays increased their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $600.27.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.