Cummins Inc. (CMI) Shares Sold by Dividend Assets Capital LLC

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Dividend Assets Capital LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,794 shares of the company’s stock after selling 989 shares during the period. Dividend Assets Capital LLC’s holdings in Cummins were worth $908,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Cummins during the 4th quarter worth $28,000. We Are One Seven LLC acquired a new stake in shares of Cummins during the 4th quarter worth $37,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Cummins during the 4th quarter worth $38,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Cummins during the 4th quarter worth $42,000. Finally, Transamerica Financial Advisors Inc. increased its holdings in shares of Cummins by 208.3% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 370 shares of the company’s stock worth $50,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 89.03% of the company’s stock.

Shares of Cummins stock opened at $155.47 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.54 and a quick ratio of 0.95. Cummins Inc. has a twelve month low of $124.40 and a twelve month high of $173.32. The firm has a market cap of $24.96 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.06 and a beta of 1.14.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing analysts’ consensus estimates of $3.81 by ($0.33). Cummins had a return on equity of 29.71% and a net margin of 9.01%. The business had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same period last year, the company posted $3.03 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts expect that Cummins Inc. will post 15.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 22nd will be given a dividend of $1.14 per share. The ex-dividend date is Thursday, February 21st. This represents a $4.56 dividend on an annualized basis and a yield of 2.93%. Cummins’s dividend payout ratio (DPR) is 34.47%.

A number of research firms have recently commented on CMI. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a report on Tuesday, October 23rd. Mizuho set a $155.00 price objective on Cummins and gave the stock a “hold” rating in a report on Saturday, February 9th. Finally, Oppenheimer downgraded Cummins from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and a consensus target price of $161.07.

In other Cummins news, VP Tracy A. Embree sold 206 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total value of $30,900.00. Following the completion of the transaction, the vice president now directly owns 4,221 shares of the company’s stock, valued at approximately $633,150. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alexis M. Herman sold 423 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $150.12, for a total transaction of $63,500.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,410 shares of company stock valued at $6,316,413. 0.67% of the stock is owned by corporate insiders.

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Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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