Cummins Inc. (NYSE:CMI) Stake Reduced by Savant Capital LLC

Savant Capital LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,034 shares of the company’s stock after selling 69 shares during the period. Savant Capital LLC’s holdings in Cummins were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Cummins by 3.2% in the fourth quarter. Brighton Jones LLC now owns 2,188 shares of the company’s stock valued at $524,000 after buying an additional 68 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in Cummins by 17.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 6,840 shares of the company’s stock worth $1,639,000 after purchasing an additional 1,030 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its holdings in Cummins by 2.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 12,750 shares of the company’s stock worth $3,055,000 after buying an additional 335 shares during the period. Investment House LLC increased its position in shares of Cummins by 1.3% in the fourth quarter. Investment House LLC now owns 24,420 shares of the company’s stock worth $5,850,000 after acquiring an additional 318 shares in the last quarter. Finally, Choreo LLC lifted its position in shares of Cummins by 175.3% in the 4th quarter. Choreo LLC now owns 3,904 shares of the company’s stock valued at $935,000 after acquiring an additional 2,486 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CMI. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and increased their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Evercore ISI boosted their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Finally, TD Cowen boosted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $282.55.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares in the company, valued at $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock valued at $13,576,838 in the last quarter. 0.56% of the stock is currently owned by insiders.

Cummins Price Performance

CMI opened at $280.74 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The company’s 50 day simple moving average is $285.06 and its 200-day simple moving average is $252.19. Cummins Inc. has a one year low of $203.18 and a one year high of $304.24. The stock has a market capitalization of $38.39 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.04.

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

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is 129.73%.

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.