GoalVest Advisory LLC Sells 50 Shares of Cummins Inc. (NYSE:CMI)

GoalVest Advisory LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,570 shares of the company’s stock after selling 50 shares during the period. GoalVest Advisory LLC’s holdings in Cummins were worth $832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. River Street Advisors LLC increased its holdings in shares of Cummins by 3.9% during the third quarter. River Street Advisors LLC now owns 6,080 shares of the company’s stock worth $1,969,000 after buying an additional 229 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Cummins by 2.2% during the third quarter. Natixis Advisors LLC now owns 98,665 shares of the company’s stock worth $31,946,000 after buying an additional 2,092 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Cummins by 673.6% during the third quarter. Mizuho Securities USA LLC now owns 81,573 shares of the company’s stock worth $26,413,000 after buying an additional 71,028 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Cummins by 15.3% during the third quarter. Empowered Funds LLC now owns 24,617 shares of the company’s stock worth $7,971,000 after buying an additional 3,265 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Cummins by 1.8% during the third quarter. Empirical Finance LLC now owns 4,838 shares of the company’s stock worth $1,566,000 after buying an additional 84 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Citigroup raised their price objective on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their price objective on shares of Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Robert W. Baird raised their price objective 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. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $294.00 to $408.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $334.33.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,576 shares of company stock worth $9,033,945. Insiders own 0.56% of the company’s stock.

Cummins Trading Down 0.5 %

Shares of NYSE CMI opened at $361.85 on Friday. The stock has a market cap of $49.64 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.77 and a beta of 0.97. Cummins Inc. has a twelve month low of $220.02 and a twelve month high of $370.21. The company’s fifty day moving average is $328.91 and its 200-day moving average is $301.64. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.73 EPS. Equities research analysts predict that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.01%. Cummins’s payout ratio is currently 48.08%.

Cummins 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.