Apollon Wealth Management LLC Sells 252 Shares of Cummins Inc. (NYSE:CMI)

Apollon Wealth Management LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,860 shares of the company’s stock after selling 252 shares during the period. Apollon Wealth Management LLC’s holdings in Cummins were worth $3,516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in Cummins by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock valued at $2,342,001,000 after purchasing an additional 604,735 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after buying an additional 2,523,854 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cummins by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock valued at $469,869,000 after buying an additional 26,977 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after acquiring an additional 31,190 shares during the period. Finally, Marshfield Associates raised its stake in Cummins by 0.3% in the 2nd quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock valued at $288,699,000 after acquiring an additional 3,076 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,193 shares of company stock valued at $9,685,552 over the last quarter. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on CMI shares. Robert W. Baird upped their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their target price on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Evercore ISI upped their target price on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Barclays raised their price target on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $324.83.

Cummins Stock Performance

NYSE:CMI opened at $355.07 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $216.91 and a fifty-two week high of $370.21. The firm has a market cap of $48.71 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The business has a 50 day moving average price of $323.90 and a 200-day moving average price of $299.69.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company posted $4.73 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 20.32 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. Cummins’s dividend payout ratio is presently 48.08%.

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.