Hyman Charles D Sells 47 Shares of Cummins Inc. (NYSE:CMI)

Hyman Charles D cut its holdings in Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,100 shares of the company’s stock after selling 47 shares during the quarter. Hyman Charles D’s holdings in Cummins were worth $264,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its position in shares of Cummins by 21.9% during the third quarter. Stratos Wealth Partners LTD. now owns 1,449 shares of the company’s stock worth $331,000 after purchasing an additional 260 shares during the period. IFM Investors Pty Ltd raised its position in shares of Cummins by 4.6% during the third quarter. IFM Investors Pty Ltd now owns 29,060 shares of the company’s stock worth $6,639,000 after purchasing an additional 1,284 shares during the period. NBT Bank N A NY acquired a new position in shares of Cummins during the third quarter worth approximately $263,000. River Street Advisors LLC raised its position in shares of Cummins by 2.1% during the third quarter. River Street Advisors LLC now owns 5,267 shares of the company’s stock worth $1,203,000 after purchasing an additional 110 shares during the period. Finally, Advisor Partners II LLC raised its position in shares of Cummins by 23.7% during the third quarter. Advisor Partners II LLC now owns 7,385 shares of the company’s stock worth $1,687,000 after purchasing an additional 1,414 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cummins news, Director Daniel William Fisher purchased 562 shares of the stock in a transaction on Tuesday, February 27th. The shares were purchased at an average price of $266.57 per share, with a total value of $149,812.34. Following the acquisition, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CMI shares. Robert W. Baird lowered their target price on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday. TD Cowen increased their price target on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Evercore ISI increased their price target on Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and a consensus target price of $282.55.

Cummins Stock Performance

Shares of CMI stock traded up $3.53 on Tuesday, hitting $287.12. 701,396 shares of the stock were exchanged, compared to its average volume of 2,553,845. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $39.27 billion, a PE ratio of 21.02, a P/E/G ratio of 1.90 and a beta of 1.04. Cummins Inc. has a one year low of $203.18 and a one year high of $304.24. The firm’s 50 day moving average is $286.11 and its two-hundred day moving average is $253.84.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.52 EPS. Sell-side analysts expect that Cummins Inc. will post 18.45 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. Cummins’s payout ratio is 49.19%.

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.