Cummins Inc. $CMI Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC cut its position in shares of Cummins Inc. (NYSE:CMI) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,610 shares of the company’s stock after selling 2,734 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Cummins were worth $16,646,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Thompson Investment Management Inc. acquired a new position in Cummins during the fourth quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in Cummins during the third quarter worth $28,000. Osterweis Capital Management Inc. acquired a new position in Cummins during the second quarter worth $31,000. Holos Integrated Wealth LLC acquired a new position in Cummins during the fourth quarter worth $32,000. Finally, Guerra Advisors Inc acquired a new stake in Cummins during the 3rd quarter valued at $36,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other news, VP Amy Rochelle Davis sold 4,054 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the sale, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William I. Miller sold 18,107 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total value of $10,811,689.70. Following the sale, the director owned 34,243 shares in the company, valued at $20,446,495.30. This trade represents a 34.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is currently owned by insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $596.51 on Thursday. The business’s fifty day moving average price is $566.98 and its two-hundred day moving average price is $513.51. The stock has a market cap of $82.41 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a one year low of $262.49 and a one year high of $617.98.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.3%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMI. Citigroup increased their target price on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Wolfe Research cut Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price on the stock. in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Finally, Raymond James Financial increased their target price on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Cummins has an average rating of “Moderate Buy” and an average target price of $588.93.

About Cummins

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.