Kintegral Advisory LLC Sells 2,876 Shares of Cummins Inc. (NYSE:CMI)

Kintegral Advisory LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,865 shares of the company's stock after selling 2,876 shares during the quarter. Kintegral Advisory LLC's holdings in Cummins were worth $1,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $499,490,000. GAMMA Investing LLC boosted its holdings in shares of Cummins by 38,220.5% in the 1st quarter. GAMMA Investing LLC now owns 1,191,385 shares of the company's stock worth $373,428,000 after buying an additional 1,188,276 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cummins during the fourth quarter valued at about $187,082,000. Vanguard Group Inc. increased its holdings in Cummins by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company's stock worth $5,912,830,000 after buying an additional 250,650 shares during the last quarter. Finally, Northern Trust Corp raised its position in Cummins by 15.1% in the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company's stock worth $656,418,000 after acquiring an additional 246,807 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 0.5%

Shares of CMI opened at $331.83 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 0.81. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90. The company has a market capitalization of $45.71 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.01 and a beta of 1.03. The firm's 50 day simple moving average is $318.77 and its 200 day simple moving average is $331.87.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly 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. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter in the previous year, the company posted $5.08 earnings per share. The company's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 annualized dividend and a yield of 2.19%. Cummins's payout ratio is 36.22%.

Insider Activity

In related news, Director John H. Stone bought 1,000 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $332.08 per share, with a total value of $332,080.00. Following the purchase, the director owned 2,441 shares in the company, valued at approximately $810,607.28. The trade was a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMI. The Goldman Sachs Group upgraded Cummins from a "neutral" rating to a "buy" rating and upped their price objective for the company from $410.00 to $431.00 in a research note on Tuesday, May 27th. Evercore ISI cut their target price on shares of Cummins from $451.00 to $419.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating and issued a $360.00 price objective (up from $350.00) on shares of Cummins in a report on Tuesday, June 24th. Finally, Morgan Stanley boosted their target price on shares of Cummins from $340.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Cummins has a consensus rating of "Hold" and an average target price of $358.08.

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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