Acropolis Investment Management LLC Cuts Stock Position in Cummins Inc. (NYSE:CMI)

Acropolis Investment Management LLC lowered its stake in Cummins Inc. (NYSE:CMI – Get Rating) by 25.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,002 shares of the company’s stock after selling 1,686 shares during the period. Acropolis Investment Management LLC’s holdings in Cummins were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. West Financial Advisors LLC purchased a new stake in shares of Cummins in the 3rd quarter worth approximately $26,000. Stonebridge Capital Advisors LLC boosted its stake in Cummins by 64.0% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 164 shares of the company’s stock valued at $33,000 after purchasing an additional 64 shares during the last quarter. Ten Capital Wealth Advisors LLC purchased a new stake in Cummins during the 3rd quarter valued at $35,000. Castle Wealth Management LLC boosted its stake in Cummins by 125.0% during the 3rd quarter. Castle Wealth Management LLC now owns 180 shares of the company’s stock valued at $37,000 after purchasing an additional 100 shares during the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new stake in Cummins during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 80.94% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. UBS Group increased their target price on Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on Cummins from $235.00 to $231.00 and set a “hold” rating on the stock in a research note on Tuesday, February 7th. Morgan Stanley lowered their price target on Cummins from $264.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, January 20th. Credit Suisse Group increased their price target on Cummins from $287.00 to $291.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th. Finally, StockNews.com initiated coverage on Cummins in a report on Thursday. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and an average target price of $254.75.

Cummins Price Performance

Shares of Cummins stock opened at $225.21 on Friday. Cummins Inc. has a one year low of $184.27 and a one year high of $261.91. The stock’s fifty day moving average is $247.59 and its 200 day moving average is $237.19. The stock has a market cap of $31.84 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.27.

Cummins (NYSE:CMI – Get Rating) last announced its earnings results on Monday, February 6th. The company reported $4.52 EPS for the quarter, hitting analysts’ consensus estimates of $4.52. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The company had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the firm earned $2.85 EPS. Cummins’s revenue for the quarter was up 32.8% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 18.95 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Shareholders of record on Friday, February 24th were paid a $1.57 dividend. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $6.28 dividend on an annualized basis and a yield of 2.79%. Cummins’s payout ratio is presently 41.56%.

Insiders Place Their Bets

In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now owns 21,742 shares in the company, valued at approximately $5,471,156.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now owns 21,742 shares in the company, valued at approximately $5,471,156.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Walter J. Fier sold 3,307 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total value of $836,637.93. Following the completion of the sale, the vice president now owns 8,090 shares of the company’s stock, valued at approximately $2,046,689.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,709 shares of company stock worth $4,245,545. Corporate insiders own 1.00% of the company’s stock.

About Cummins

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.