Seizert Capital Partners LLC Sells 3,073 Shares of Cummins Inc. (NYSE:CMI)

Seizert Capital Partners LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,897 shares of the company’s stock after selling 3,073 shares during the quarter. Seizert Capital Partners LLC’s holdings in Cummins were worth $7,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CMI. PFG Investments LLC increased its position in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after acquiring an additional 485 shares in the last quarter. CWM LLC increased its holdings in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares in the last quarter. Distillate Capital Partners LLC raised its stake in shares of Cummins by 109,309.3% in the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after purchasing an additional 59,027 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Cummins during the second quarter valued at $16,329,000. Finally, Cetera Advisors LLC boosted its position in shares of Cummins by 162.9% during the first quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock valued at $6,739,000 after buying an additional 14,170 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 23.85 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,576 shares of company stock valued at $9,033,945 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of several research analyst reports. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Vertical Research downgraded 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. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. 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, Citigroup upped their price objective on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $334.33.

Cummins Trading Down 0.5 %

Shares of NYSE:CMI opened at $361.85 on Friday. The stock has a 50 day moving average of $328.91 and a 200 day moving average of $301.64. The company has a market cap of $49.64 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. Cummins Inc. has a 12-month low of $220.02 and a 12-month 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.

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 during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $4.73 earnings per share. As a group, equities research analysts expect that Cummins Inc. will post 20.61 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.01%. Cummins’s payout ratio is 48.08%.

Cummins 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.