Sigma Planning Corp Has $605,000 Stock Position in Cummins Inc. (NYSE:CMI)

Sigma Planning Corp trimmed its position in Cummins Inc. (NYSE:CMI) by 60.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,526 shares of the company’s stock after selling 3,881 shares during the period. Sigma Planning Corp’s holdings in Cummins were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bison Wealth LLC lifted its position in Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after purchasing an additional 42 shares during the period. KB Financial Partners LLC lifted its position in Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after purchasing an additional 45 shares during the period. Edmp Inc. lifted its position in Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after purchasing an additional 46 shares during the period. Ledge Wealth Management Inc. lifted its position in Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after purchasing an additional 48 shares during the period. Finally, Peloton Wealth Strategists lifted its position in Cummins by 0.4% during the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after purchasing an additional 50 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel William Fisher purchased 562 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $266.57 per share, with a total value of $149,812.34. Following the completion of the purchase, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. Insiders sold 51,289 shares of company stock valued at $13,576,838 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Cummins Price Performance

NYSE CMI opened at $292.42 on Thursday. The business has a 50 day simple moving average of $282.33 and a 200 day simple moving average of $249.89. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The stock has a market cap of $39.99 billion, a price-to-earnings ratio of 56.45, a PEG ratio of 1.97 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.52 earnings per share. Analysts anticipate that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.30%. Cummins’s dividend payout ratio is currently 129.73%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen upped their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group increased their price target on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their price target for the company from $254.00 to $321.00 in a research report on Friday, March 15th. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley started coverage on shares of Cummins in a research report on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $279.70.

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.