Mutual of America Capital Management LLC Sells 189 Shares of Cummins Inc. $CMI

Mutual of America Capital Management LLC decreased its position in Cummins Inc. (NYSE:CMI) by 1.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,801 shares of the company’s stock after selling 189 shares during the period. Mutual of America Capital Management LLC’s holdings in Cummins were worth $5,175,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CMI. Brighton Jones LLC lifted its stake in Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cummins by 22.3% in the 1st quarter. GAMMA Investing LLC now owns 3,801 shares of the company’s stock valued at $1,191,000 after acquiring an additional 692 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Cummins by 35.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,658 shares of the company’s stock valued at $9,923,000 after acquiring an additional 8,261 shares in the last quarter. PFG Investments LLC lifted its stake in Cummins by 2.5% in the 1st quarter. PFG Investments LLC now owns 2,260 shares of the company’s stock valued at $708,000 after acquiring an additional 56 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Cummins by 5.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,987 shares of the company’s stock valued at $10,653,000 after acquiring an additional 1,678 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.0%

NYSE:CMI opened at $418.33 on Wednesday. The firm has a market capitalization of $57.64 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.04. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $440.51. The stock’s 50 day moving average price is $412.01 and its two-hundred day moving average price is $354.77. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $1.22. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.26 EPS. Equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.9%. Cummins’s payout ratio is presently 37.61%.

Insider Buying and Selling at Cummins

In related news, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total transaction of $748,203.60. Following the transaction, the vice president directly owned 955 shares of the company’s stock, valued at approximately $384,158.30. The trade was a 66.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the transaction, the vice president directly owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,119 shares of company stock worth $17,674,285 in the last three months. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several research reports. Melius upgraded Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, September 3rd. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Wolfe Research raised Cummins from a “hold” rating to an “outperform” rating in a research report on Monday, August 11th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $410.50.

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.