Foster & Motley Inc. Sells 1,428 Shares of Cummins Inc. $CMI

Foster & Motley Inc. lowered its stake in Cummins Inc. (NYSE:CMI) by 5.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,645 shares of the company’s stock after selling 1,428 shares during the period. Foster & Motley Inc.’s holdings in Cummins were worth $11,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter worth $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Cummins during the 3rd quarter valued at about $28,000. Osterweis Capital Management Inc. purchased a new stake in Cummins during the second quarter valued at approximately $31,000. Holos Integrated Wealth LLC purchased a new stake in shares of Cummins in the 4th quarter worth $32,000. Finally, Guerra Advisors Inc purchased a new stake in Cummins in the third quarter worth about $36,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president directly owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CMI shares. Wolfe Research cut Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a report on Monday, January 26th. UBS Group set a $565.00 price target on shares of Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. Argus set a $696.00 price objective on Cummins in a research report on Tuesday, February 10th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Citigroup increased their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Stock Performance

Shares of Cummins stock opened at $511.22 on Tuesday. The company has a market capitalization of $70.63 billion, a PE ratio of 24.91, a P/E/G ratio of 1.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The company has a 50-day simple moving average of $569.65 and a two-hundred day simple moving average of $507.34. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the business earned $5.16 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, February 20th. Cummins’s payout ratio is presently 38.99%.

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.