Western Wealth Management LLC Sells 1,057 Shares of Cummins Inc. (NYSE:CMI)

Western Wealth Management LLC lessened its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 25.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,089 shares of the company's stock after selling 1,057 shares during the quarter. Western Wealth Management LLC's holdings in Cummins were worth $1,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CMI. Diversify Wealth Management LLC purchased a new position in Cummins in the 4th quarter valued at about $215,000. Koshinski Asset Management Inc. lifted its holdings in Cummins by 13.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 1,372 shares of the company's stock valued at $478,000 after purchasing an additional 162 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Cummins by 5.3% in the 4th quarter. Ballentine Partners LLC now owns 2,506 shares of the company's stock valued at $874,000 after purchasing an additional 127 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Cummins by 26.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 10,167 shares of the company's stock valued at $3,544,000 after purchasing an additional 2,147 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in Cummins by 88.5% in the 4th quarter. Perpetual Ltd now owns 2,130 shares of the company's stock valued at $743,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Trading Up 2.8%

Shares of NYSE:CMI traded up $9.00 during midday trading on Tuesday, reaching $326.23. The company had a trading volume of 730,967 shares, compared to its average volume of 804,055. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The company has a fifty day simple moving average of $304.18 and a two-hundred day simple moving average of $340.63.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $4.92 by $1.04. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.17 billion for the quarter, compared to analysts' expectations of $8.22 billion. During the same quarter in the previous year, the business posted $5.08 EPS. The business's revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.23%. Cummins's dividend payout ratio (DPR) is presently 36.22%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Citigroup upped their price target on Cummins from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Monday, May 12th. The Goldman Sachs Group upgraded Cummins from a "neutral" rating to a "buy" rating and increased their target price for the company from $410.00 to $431.00 in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Cummins from $308.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Robert W. Baird reduced their price objective on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Cummins currently has an average rating of "Hold" and a consensus target price of $357.25.

Insider Buying and Selling at Cummins

In related news, Director John H. Stone bought 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the transaction, the director now directly owns 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company's stock.

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.