Barlow Wealth Partners Inc. Sells 5,108 Shares of Cummins Inc. (NYSE:CMI)

Barlow Wealth Partners Inc. reduced its stake in Cummins Inc. (NYSE:CMI - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,320 shares of the company's stock after selling 5,108 shares during the quarter. Barlow Wealth Partners Inc.'s holdings in Cummins were worth $12,411,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after acquiring an additional 52 shares during the period. TCTC Holdings LLC acquired a new position in shares of Cummins during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Cummins in the fourth quarter valued at about $30,000. Capital A Wealth Management LLC bought a new stake in shares of Cummins in the fourth quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Cummins during the first quarter worth about $37,000. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John H. Stone purchased 1,000 shares of the stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the transaction, the director directly owned 2,441 shares of the company's stock, valued at $810,607.28. This trade represents a 69.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company's stock.

Cummins Trading Down 0.5%

Shares of CMI traded down $1.61 on Friday, reaching $331.83. 549,622 shares of the company's stock were exchanged, compared to its average volume of 774,005. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90. The stock has a market capitalization of $45.71 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.03. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $318.77 and a two-hundred day moving average price of $331.87.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $5.08 EPS. Research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, May 23rd. Cummins's dividend payout ratio (DPR) is currently 36.22%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CMI shares. UBS Group downgraded Cummins from a "buy" rating to a "sell" rating and cut their target price for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Robert W. Baird cut their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Evercore ISI reduced their price target on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $358.08.

Cummins 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.