S.A. Mason LLC Decreases Position in Cummins Inc. (NYSE:CMI)

S.A. Mason LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,050 shares of the company’s stock after selling 75 shares during the period. S.A. Mason LLC’s holdings in Cummins were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMI. KB Financial Partners LLC boosted its stake in shares of Cummins by 1.3% in the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after purchasing an additional 45 shares during the period. Columbia Trust Co 01012016 boosted its position in Cummins by 1.2% in the 3rd quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after buying an additional 48 shares during the last quarter. Spears Abacus Advisors LLC grew its stake in shares of Cummins by 5.1% during the first quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after acquiring an additional 48 shares in the last quarter. Peloton Wealth Strategists grew its stake in shares of Cummins by 0.4% during the third quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after acquiring an additional 50 shares in the last quarter. Finally, D.B. Root & Company LLC lifted its stake in shares of Cummins by 0.9% in the fourth quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock worth $1,277,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $294.69 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm has a market capitalization of $41.80 billion, a PE ratio of 56.89, a P/E/G ratio of 1.98 and a beta of 1.03. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $297.11. The business’s fifty day moving average price is $260.31 and its two-hundred day moving average price is $240.49.

Cummins (NYSE:CMI) last posted its earnings results 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). The firm had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 earnings per share. On average, research analysts expect that Cummins Inc. will post 18.36 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a yield of 2.28%. Cummins’s payout ratio is 129.73%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMI. Citigroup raised their price objective on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Truist Financial began coverage on shares of Cummins in a research report on Thursday, March 14th. They set a “hold” rating and a $303.00 price target for the company. Evercore ISI increased their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Morgan Stanley assumed coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.