Cummins Inc. $CMI Stock Position Decreased by Simon Quick Advisors LLC

Simon Quick Advisors LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 84.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 589 shares of the company’s stock after selling 3,131 shares during the period. Simon Quick Advisors LLC’s holdings in Cummins were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CMI. Salomon & Ludwin LLC grew its holdings in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after purchasing an additional 80 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of Cummins in the 3rd quarter worth approximately $39,000. Osterweis Capital Management Inc. acquired a new position in Cummins during the 2nd quarter valued at approximately $31,000. SJS Investment Consulting Inc. grew its stake in Cummins by 1,414.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $45,000 after buying an additional 99 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new stake in Cummins in the third quarter worth $45,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMI. Wells Fargo & Company assumed coverage on shares of Cummins in a report on Thursday, November 13th. They set an “overweight” rating and a $599.00 price target for the company. Argus lifted their price objective on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Citigroup upped their target price on shares of Cummins from $530.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Barclays restated a “positive” rating on shares of Cummins in a research note on Friday, December 19th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $492.75.

Cummins Stock Up 2.3%

Cummins stock opened at $522.19 on Monday. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $526.50. The stock has a market cap of $72.08 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.82 and a beta of 1.12. The company’s 50-day moving average price is $487.29 and its two-hundred day moving average price is $421.17. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The company had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. During the same period in the prior year, the business posted $5.86 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 21st. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity

In related news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the transaction, the insider owned 9,271 shares of the company’s stock, valued at $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Andrew Smith sold 13,110 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,330 shares of company stock worth $9,135,364. 0.41% of the stock is owned by company insiders.

Cummins Profile

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.