Applied Capital LLC FL Sells 4,703 Shares of Cummins Inc. $CMI

Applied Capital LLC FL decreased its position in Cummins Inc. (NYSE:CMI) by 72.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,800 shares of the company’s stock after selling 4,703 shares during the quarter. Applied Capital LLC FL’s holdings in Cummins were worth $919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oldfather Financial Services LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $215,000. Legacy Capital Wealth Partners LLC bought a new position in Cummins in the 4th quarter worth about $220,000. CRA Financial Services LLC grew its position in Cummins by 4.0% during the 4th quarter. CRA Financial Services LLC now owns 707 shares of the company’s stock valued at $361,000 after purchasing an additional 27 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in Cummins by 0.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares in the last quarter. Finally, Three Seasons Wealth LLC bought a new stake in Cummins during the 4th quarter valued at about $257,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Up 2.5%

Shares of CMI stock opened at $551.24 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98. The stock has a market capitalization of $76.16 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.70 and a beta of 1.14. The firm’s 50 day moving average is $568.47 and its 200 day moving average is $508.53.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the firm earned $5.16 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a $2.00 dividend. 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 presently 38.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMI. Morgan Stanley reiterated an “overweight” rating and issued a $675.00 target price on shares of Cummins in a research note on Friday, February 6th. Wall Street Zen lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Citigroup increased their target price on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Wells Fargo & Company boosted their price target on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Insider Buying and Selling

In other Cummins news, VP Jennifer Mary Bush sold 4,270 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares in the company, valued at approximately $8,849,990.90. This trade represents a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,195 shares of company stock valued at $18,397,489 in the last 90 days. 0.41% of the stock is owned by insiders.

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.