Brown Advisory Inc. Sells 6,443 Shares of Cummins Inc. $CMI

Brown Advisory Inc. decreased its holdings in Cummins Inc. (NYSE:CMI) by 11.6% in the 4th quarter, HoldingsChannel reports. The firm owned 49,185 shares of the company’s stock after selling 6,443 shares during the quarter. Brown Advisory Inc.’s holdings in Cummins were worth $25,106,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Frank Rimerman Advisors LLC raised its position in Cummins by 0.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares during the last quarter. Financial Consulate Inc. raised its position in Cummins by 16.8% in the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after purchasing an additional 18 shares during the last quarter. ICW Investment Advisors LLC raised its position in Cummins by 2.6% in the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock valued at $369,000 after purchasing an additional 18 shares during the last quarter. Gilbert & Cook Inc. raised its position in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after acquiring an additional 19 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its position in shares of Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock worth $501,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In related news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nathan R. Stoner sold 607 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $694.06, for a total value of $421,294.42. Following the completion of the transaction, the vice president directly owned 9,447 shares of the company’s stock, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,579 shares of company stock valued at $9,377,684 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Cummins Stock Up 3.0%

Shares of Cummins stock opened at $679.66 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08. The business has a fifty day simple moving average of $651.02 and a 200 day simple moving average of $585.26. The stock has a market cap of $93.79 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.

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

Cummins Dividend Announcement

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

Analysts Set New Price Targets

CMI has been the subject of a number of recent research reports. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Barclays boosted their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $726.14.

About Cummins

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.