Everett Harris & Co. CA Sells 1,075 Shares of Cummins Inc. (NYSE:CMI)

Everett Harris & Co. CA trimmed its holdings in Cummins Inc. (NYSE:CMI) by 39.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,675 shares of the company’s stock after selling 1,075 shares during the period. Everett Harris & Co. CA’s holdings in Cummins were worth $401,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Cummins during the 3rd quarter worth $25,000. Silver Oak Securities Incorporated bought a new stake in Cummins in the 3rd quarter valued at $28,000. Tyler Stone Wealth Management bought a new stake in Cummins in the 2nd quarter valued at $30,000. Global Wealth Strategies & Associates acquired a new position in shares of Cummins in the 3rd quarter valued at $29,000. Finally, Quarry LP acquired a new position in shares of Cummins in the 1st quarter valued at $32,000. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the transaction, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock valued at $13,576,838 over the last ninety days. 1.12% of the stock is currently owned by company insiders.

Cummins Stock Down 0.0 %

CMI stock traded down $0.08 during mid-day trading on Thursday, hitting $294.61. 1,107,282 shares of the company were exchanged, compared to its average volume of 3,261,030. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm has a market cap of $41.79 billion, a P/E ratio of 56.87, a P/E/G ratio of 1.98 and a beta of 1.03. The firm’s 50 day simple moving average is $261.54 and its 200 day simple moving average is $240.87. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $297.11.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the business earned $4.52 earnings per share. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts predict that Cummins Inc. will post 18.36 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.28%. Cummins’s dividend payout ratio (DPR) is 129.73%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CMI shares. Truist Financial started coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 target price for the company. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Evercore ISI increased their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Citigroup increased their price objective on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins has an average rating of “Hold” and an average target price of $271.64.

About Cummins

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.