Foundations Investment Advisors LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,277 shares of the company's stock after selling 3,347 shares during the period. Foundations Investment Advisors LLC's holdings in Cummins were worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company's stock valued at $1,240,000 after buying an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company's stock valued at $21,055,000 after buying an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new position in shares of Cummins during the second quarter valued at about $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins during the second quarter worth about $31,000. Institutional investors own 83.46% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on CMI. Zacks Research raised shares of Cummins from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Barclays boosted their price objective on Cummins from $610.00 to $760.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on Cummins in a report on Wednesday, May 6th. Argus set a $696.00 target price on Cummins in a research report on Tuesday, February 10th. Finally, UBS Group set a $565.00 price target on Cummins and gave the stock a "neutral" rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cummins has an average rating of "Moderate Buy" and an average price target of $700.50.
Read Our Latest Stock Analysis on Cummins
Insider Buying and Selling
In related news, VP Nathan R. Stoner sold 607 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total value of $421,294.42. Following the sale, the vice president directly owned 9,447 shares in the company, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,633 shares of company stock worth $11,653,357 in the last quarter. 0.30% of the stock is currently owned by company insiders.
Cummins Stock Performance
Shares of CMI stock opened at $646.53 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm has a market cap of $89.21 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 1.63 and a beta of 1.27. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The firm's 50-day simple moving average is $623.70 and its two-hundred day simple moving average is $569.87.
Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the business posted $5.96 EPS. Cummins's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Cummins Inc. will post 29.4 earnings per share for the current year.
Cummins Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. Cummins's dividend payout ratio is presently 41.52%.
Cummins Profile
(
Free Report)
Cummins Inc NYSE: CMI is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world's leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.
The company's product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.
Featured Stories
Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Cummins, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cummins wasn't on the list.
While Cummins currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
