Verus Capital Partners LLC Sells 50 Shares of Cummins Inc. (NYSE:CMI)

Verus Capital Partners LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,112 shares of the company’s stock after selling 50 shares during the quarter. Verus Capital Partners LLC’s holdings in Cummins were worth $360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Capital LLC lifted its position in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the last quarter. Equitable Trust Co. boosted its position in shares of Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after buying an additional 32 shares during the period. Atlantic Edge Private Wealth Management LLC increased its stake in Cummins by 0.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock worth $1,488,000 after purchasing an additional 35 shares during the period. EP Wealth Advisors LLC increased its position in shares of Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares during the period. Finally, Fidelis Capital Partners LLC raised its position in Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after purchasing an additional 38 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,001 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $358.43, for a total value 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. This trade represents 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 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMI has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Barclays lifted their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $324.83.

Cummins Trading Down 0.9 %

NYSE:CMI opened at $355.07 on Wednesday. Cummins Inc. has a 1 year low of $216.91 and a 1 year high of $370.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a fifty day moving average price of $323.90 and a two-hundred day moving average price of $299.69. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm earned $4.73 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins Inc. will post 20.32 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is currently 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.