SG Americas Securities LLC Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

SG Americas Securities LLC lessened its stake in Cummins Inc. (NYSE:CMI – Get Rating) by 93.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437 shares of the company’s stock after selling 6,628 shares during the quarter. SG Americas Securities LLC’s holdings in Cummins were worth $106,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Synovus Financial Corp increased its position in shares of Cummins by 254.4% in the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,378 shares during the last quarter. Cibc World Market Inc. increased its holdings in Cummins by 65.4% in the first quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after buying an additional 7,191 shares during the last quarter. Sei Investments Co. raised its stake in Cummins by 16.1% during the first quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after buying an additional 13,058 shares in the last quarter. Prudential PLC acquired a new stake in Cummins during the first quarter valued at approximately $711,000. Finally, Cetera Investment Advisers grew its position in shares of Cummins by 43.0% in the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,925 shares in the last quarter. 80.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cummins news, VP Walter J. Fier sold 3,307 shares of Cummins stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total transaction of $836,637.93. Following the transaction, the vice president now owns 8,090 shares of the company’s stock, valued at approximately $2,046,689.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Walter J. Fier sold 3,307 shares of Cummins stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total transaction of $836,637.93. Following the completion of the sale, the vice president now owns 8,090 shares of the company’s stock, valued at $2,046,689.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 5,929 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $257.13, for a total value of $1,524,523.77. Following the completion of the transaction, the vice president now directly owns 16,144 shares in the company, valued at $4,151,106.72. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Cummins from $231.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, April 12th. Credit Suisse Group raised their price target on shares of Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th. UBS Group boosted their price objective on shares of Cummins from $247.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. VNET Group reissued a “maintains” rating on shares of Cummins in a report on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on Cummins in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and an average price target of $254.25.

Cummins Price Performance

NYSE CMI opened at $212.63 on Wednesday. Cummins Inc. has a 12 month low of $184.27 and a 12 month high of $261.91. The firm has a market capitalization of $30.10 billion, a PE ratio of 11.99, a P/E/G ratio of 1.27 and a beta of 1.00. The company’s 50 day simple moving average is $229.92 and its 200 day simple moving average is $240.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.29 and a quick ratio of 0.80.

Cummins (NYSE:CMI – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $5.55 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.85. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.13 billion. Cummins had a return on equity of 25.94% and a net margin of 8.37%. The company’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.04 earnings per share. As a group, equities research analysts forecast that Cummins Inc. will post 19.55 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be paid a dividend of $1.57 per share. This represents a $6.28 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, May 18th. Cummins’s dividend payout ratio (DPR) is currently 35.40%.

Cummins Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.