Cummins Inc. (NYSE:CMI) Shares Sold by Financial Management Professionals Inc.

Financial Management Professionals Inc. reduced its stake in Cummins Inc. (NYSE:CMI) by 5.5% in the first quarter, HoldingsChannel reports. The fund owned 1,536 shares of the company’s stock after selling 90 shares during the quarter. Financial Management Professionals Inc.’s holdings in Cummins were worth $453,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Bison Wealth LLC lifted its position in Cummins by 3.6% in the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after buying an additional 42 shares in the last quarter. KB Financial Partners LLC lifted its position in Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after buying an additional 45 shares in the last quarter. Edmp Inc. lifted its position in Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after buying an additional 46 shares in the last quarter. Ledge Wealth Management Inc. lifted its position in Cummins by 0.5% in the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock worth $2,165,000 after buying an additional 48 shares in the last quarter. Finally, D.B. Root & Company LLC lifted its position in Cummins by 0.9% in the 4th quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock worth $1,277,000 after buying an additional 50 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

NYSE:CMI opened at $276.99 on Friday. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $304.24. The firm’s fifty day simple moving average is $282.30 and its 200 day simple moving average is $268.68. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $37.89 billion, a PE ratio of 20.28, a PEG ratio of 1.75 and a beta of 1.02.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.36 billion. On average, sell-side analysts anticipate that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were given a $1.68 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 annualized dividend and a yield of 2.43%. Cummins’s dividend payout ratio is 49.19%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Marvin Boakye purchased 1,745 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was bought at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMI shares. Citigroup started coverage on shares of Cummins in a research report on Wednesday. They issued a “buy” rating and a $320.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price target for the company from $254.00 to $321.00 in a report on Friday, March 15th. Finally, The Goldman Sachs Group raised their price target on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $287.55.

Cummins Company Profile

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 Accelera. 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 parts and services, as well as remanufactured parts and engines.