Centaurus Financial Inc. Sells 2,211 Shares of Cummins Inc. $CMI

Centaurus Financial Inc. lessened its stake in Cummins Inc. (NYSE:CMI) by 82.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 480 shares of the company’s stock after selling 2,211 shares during the quarter. Centaurus Financial Inc.’s holdings in Cummins were worth $157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after acquiring an additional 83 shares during the last quarter. Algert Global LLC bought a new position in shares of Cummins in the first quarter valued at $323,000. Aptus Capital Advisors LLC increased its holdings in Cummins by 63.6% during the first quarter. Aptus Capital Advisors LLC now owns 8,295 shares of the company’s stock worth $2,600,000 after buying an additional 3,224 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Cummins by 16.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,769 shares of the company’s stock worth $2,122,000 after acquiring an additional 935 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in Cummins by 7.8% in the first quarter. Legacy Financial Advisors Inc. now owns 676 shares of the company’s stock valued at $212,000 after acquiring an additional 49 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the transaction, the insider directly owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at approximately $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,330 shares of company stock valued at $12,649,764. 0.41% of the stock is owned by company insiders.

Cummins Price Performance

Cummins stock opened at $500.58 on Friday. The company has a market capitalization of $69.10 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.96 and a beta of 1.11. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $526.50. The stock’s 50 day moving average is $465.34 and its 200-day moving average is $404.98.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The business had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same period last year, the firm posted $5.86 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were paid a $2.00 dividend. The ex-dividend date was Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.6%. Cummins’s dividend payout ratio is 41.52%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMI. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a research note on Monday. Sanford C. Bernstein reiterated a “market perform” rating and set a $475.00 target price on shares of Cummins in a research note on Friday, November 7th. Finally, Citigroup boosted their target price on Cummins from $530.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.53.

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.