Aull & Monroe Investment Management Corp Has $3.24 Million Stock Holdings in Cummins Inc. $CMI

Key Points

• Aull & Monroe Investment Management Corp reduced its stake in Cummins Inc. by 18.2%, now holding 9,904 shares valued at approximately $3.24 million.
• Despite a slight year-over-year revenue decline, Cummins reported a strong quarterly EPS of $6.43, surpassing analyst expectations of $5.21.
• The company declared a quarterly dividend of $2.00 per share, with a dividend yield of 1.9%, payable on December 4th.

Aull & Monroe Investment Management Corp cut its position in Cummins Inc. (NYSE:CMI - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,904 shares of the company's stock after selling 2,205 shares during the period. Cummins comprises about 1.7% of Aull & Monroe Investment Management Corp's portfolio, making the stock its 18th largest position. Aull & Monroe Investment Management Corp's holdings in Cummins were worth $3,244,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Olde Wealth Management LLC acquired a new stake in shares of Cummins during the first quarter worth $30,000. Accredited Wealth Management LLC acquired a new stake in shares of Cummins during the first quarter worth $31,000. Richardson Financial Services Inc. acquired a new stake in shares of Cummins during the first quarter worth $39,000. Costello Asset Management INC acquired a new stake in shares of Cummins during the first quarter worth $40,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Cummins during the first quarter worth $41,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Cummins in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $400.00 to $460.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Zacks Research raised shares of Cummins from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 8th. Wolfe Research raised shares of Cummins from a "hold" rating to an "outperform" rating in a research report on Monday, August 11th. Finally, Citigroup raised their target price on shares of Cummins from $425.00 to $485.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $407.43.

Cummins Stock Performance

Shares of CMI opened at $411.84 on Friday. The firm has a 50-day moving average of $411.10 and a 200-day moving average of $352.98. Cummins Inc. has a one year low of $260.02 and a one year high of $440.51. The company has a market cap of $56.75 billion, a PE ratio of 19.36, a price-to-earnings-growth 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 (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter last year, the firm posted $5.26 EPS. The company's quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 21st. Cummins's dividend payout ratio (DPR) is 37.61%.

Insider Buying and Selling

In other news, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the completion of the transaction, the vice president owned 955 shares of the company's stock, valued at $384,158.30. This trade represents a 66.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Luther E. Peters sold 4,850 shares of Cummins stock in a transaction dated Friday, August 8th. The shares were 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 directly owned 7,693 shares of the company's stock, valued at approximately $2,994,038.67. This trade represents a 38.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,119 shares of company stock worth $17,674,285. Corporate insiders own 0.41% of the company's stock.

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.

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