Cummins Inc. (NYSE:CMI) Shares Sold by Hyman Charles D

Hyman Charles D reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the company’s stock after selling 47 shares during the period. Hyman Charles D’s holdings in Cummins were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Balentine LLC increased its position in Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after buying an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after buying an additional 3,866 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Cummins during the 3rd quarter valued at about $9,048,000. Capital Advisors Inc. OK acquired a new position in shares of Cummins in the fourth quarter valued at about $24,915,000. Finally, SG Americas Securities LLC raised its stake in shares of Cummins by 227.6% in the fourth quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after purchasing an additional 16,869 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the firm’s 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 sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,289 shares of company stock worth $13,576,838. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on CMI shares. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. Truist Financial raised their price objective on Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, UBS Group raised Cummins from a “neutral” rating to a “buy” rating and upped their price target for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $282.55.

Cummins Price Performance

Shares of NYSE CMI traded up $3.53 during midday trading on Tuesday, hitting $287.12. The stock had a trading volume of 701,396 shares, compared to its average volume of 2,553,845. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $286.11 and a 200-day simple moving average of $253.84. The company has a market capitalization of $39.27 billion, a PE ratio of 21.02, a P/E/G ratio of 1.90 and a beta of 1.04. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the business posted $4.52 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 18.45 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio is currently 49.19%.

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.