Cummins Inc. (NYSE:CMI) Stake Decreased by GoalVest Advisory LLC

GoalVest Advisory LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,570 shares of the company’s stock after selling 50 shares during the period. GoalVest Advisory LLC’s holdings in Cummins were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. River Street Advisors LLC raised its holdings in Cummins by 3.9% during the third quarter. River Street Advisors LLC now owns 6,080 shares of the company’s stock worth $1,969,000 after purchasing an additional 229 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Cummins by 2.2% in the third quarter. Natixis Advisors LLC now owns 98,665 shares of the company’s stock valued at $31,946,000 after buying an additional 2,092 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Cummins by 673.6% in the third quarter. Mizuho Securities USA LLC now owns 81,573 shares of the company’s stock valued at $26,413,000 after buying an additional 71,028 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Cummins by 15.3% in the third quarter. Empowered Funds LLC now owns 24,617 shares of the company’s stock valued at $7,971,000 after buying an additional 3,265 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Cummins by 1.8% in the third quarter. Empirical Finance LLC now owns 4,838 shares of the company’s stock valued at $1,566,000 after buying an additional 84 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.5 %

NYSE CMI opened at $361.85 on Friday. Cummins Inc. has a 1-year low of $220.02 and a 1-year high of $370.21. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The firm’s fifty day simple moving average is $328.91 and its 200-day simple moving average is $301.64.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.73 earnings per share. As a group, sell-side analysts anticipate that Cummins Inc. will post 20.57 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, November 22nd. Cummins’s payout ratio is 48.08%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,576 shares of company stock valued at $9,033,945 over the last three months. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CMI has been the topic of several research reports. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Citigroup upped their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $334.33.

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.