Advisory Resource Group Sells 1,153 Shares of Cummins Inc. $CMI

Advisory Resource Group cut its stake in shares of Cummins Inc. (NYSE:CMI) by 8.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,801 shares of the company’s stock after selling 1,153 shares during the period. Cummins comprises about 1.1% of Advisory Resource Group’s holdings, making the stock its 23rd largest position. Advisory Resource Group’s holdings in Cummins were worth $6,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Brighton Jones LLC increased its holdings in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Cummins by 2.8% during 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 during the last quarter. ICW Investment Advisors LLC purchased a new stake in shares of Cummins during the second quarter valued at $225,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Cummins during the second quarter valued at $31,000. 83.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMI shares. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Morgan Stanley increased their price objective on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial increased their price objective on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Citigroup increased their price objective on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $726.14.

Cummins Trading Up 4.0%

Shares of NYSE:CMI opened at $655.61 on Friday. The stock has a market capitalization of $90.47 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.54 and a beta of 1.23. 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 stock’s 50-day simple moving average is $646.26 and its two-hundred day simple moving average is $582.72. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the company earned $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. Cummins’s dividend payout ratio (DPR) is 41.52%.

Insider Transactions at Cummins

In other news, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the transaction, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This trade represents a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Cummins Company 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.