AdvisorNet Financial Inc trimmed its position in Cummins Inc. (NYSE:CMI – Get Rating) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 967 shares of the company’s stock after selling 66 shares during the period. AdvisorNet Financial Inc’s holdings in Cummins were worth $198,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of CMI. Mystic Asset Management Inc. purchased a new position in Cummins in the 4th quarter valued at $27,000. KRS Capital Management LLC purchased a new position in Cummins in the 4th quarter valued at $30,000. Steward Financial Group LLC purchased a new stake in shares of Cummins during the 4th quarter worth $32,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Cummins during the 4th quarter worth $39,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Cummins during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 80.50% of the company’s stock.
Shares of CMI stock opened at $193.75 on Thursday. The firm has a 50-day moving average price of $200.60 and a 200 day moving average price of $208.99. Cummins Inc. has a twelve month low of $184.27 and a twelve month high of $247.48. The company has a market capitalization of $27.34 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.26 and a beta of 1.02. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.
Cummins (NYSE:CMI – Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.55 by $0.49. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $4.04 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts predict that Cummins Inc. will post 17.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Friday, May 20th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, May 19th. Cummins’s payout ratio is 43.15%.
CMI has been the topic of several research analyst reports. Credit Suisse Group decreased their target price on shares of Cummins from $304.00 to $270.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. UBS Group lowered shares of Cummins from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $214.00 in a research report on Friday, March 18th. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Finally, Morgan Stanley started coverage on Cummins in a research note on Thursday, June 23rd. They set an “equal weight” rating and a $205.00 price target for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus target price of $248.33.
In other Cummins news, Director Franklin R. Changdiaz sold 1,560 shares of Cummins stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $199.62, for a total value of $311,407.20. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at approximately $966,560.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sharon R. Barner sold 4,750 shares of Cummins stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $205.00, for a total value of $973,750.00. Following the completion of the sale, the vice president now owns 16,348 shares of the company’s stock, valued at approximately $3,351,340. The disclosure for this sale can be found here. Insiders sold a total of 11,310 shares of company stock valued at $2,306,857 in the last three months. 1.05% of the stock is currently owned by corporate insiders.
Cummins Profile (Get Rating)
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 New Power. 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 new parts and services, as well as remanufactured parts and engines.
Want More Great Investing Ideas?
Receive News & Ratings for Cummins Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cummins and related companies with MarketBeat.com’s FREE daily email newsletter.