Cummins Inc. (NYSE:CMI) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,773 shares of the company’s stock after selling 116 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Cummins were worth $1,143,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CMI. OFI Invest Asset Management acquired a new stake in shares of Cummins during the 3rd quarter worth about $25,000. Silver Oak Securities Incorporated purchased a new position in shares of Cummins during the third quarter worth $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cummins in the 4th quarter valued at $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Cummins during the 3rd quarter valued at about $39,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Cummins during the fourth quarter worth about $39,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Daniel William Fisher acquired 562 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. Insiders sold 55,169 shares of company stock valued at $14,689,855 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMI. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Robert W. Baird decreased their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Evercore ISI raised their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, TD Cowen upped their price objective on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cummins currently has an average rating of “Hold” and a consensus target price of $282.55.

Cummins Stock Performance

Shares of CMI stock traded up $2.06 during mid-day trading on Wednesday, hitting $288.97. The stock had a trading volume of 756,789 shares, compared to its average volume of 2,531,926. The firm has a market cap of $39.53 billion, a PE ratio of 21.15, a PEG ratio of 1.90 and a beta of 1.04. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company’s 50-day simple moving average is $286.11 and its 200-day simple moving average is $253.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company’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 anticipate that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) 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.