Cummins Inc. $CMI Shares Sold by Butensky & Cohen Financial Security Inc.

Butensky & Cohen Financial Security Inc. reduced its position in Cummins Inc. (NYSE:CMI) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,481 shares of the company’s stock after selling 1,222 shares during the period. Cummins comprises approximately 1.9% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 7th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Cummins were worth $6,881,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Cummins by 1.4% in the 2nd quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after purchasing an additional 92,073 shares during the period. Fisher Asset Management LLC raised its stake in Cummins by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after purchasing an additional 91,956 shares during the period. Norges Bank acquired a new stake in Cummins during the 2nd quarter valued at $505,941,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cummins by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company’s stock valued at $649,280,000 after purchasing an additional 7,372 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Cummins by 4.5% in the third quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company’s stock worth $640,090,000 after buying an additional 64,822 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, VP Jennifer Mary Bush sold 4,270 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director directly owned 34,243 shares in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CMI shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Truist Financial restated a “buy” rating and set a $703.00 price objective (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $675.00 target price on shares of Cummins in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $588.93.

Cummins Trading Down 4.4%

Cummins stock opened at $529.03 on Friday. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $73.09 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.75 and a beta of 1.12. The company’s fifty day simple moving average is $572.17 and its 200-day simple moving average is $504.28.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $5.16 earnings per share. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.