Cummins Inc. (NYSE:CMI) Shares Sold by L.M. Kohn & Company

L.M. Kohn & Company lowered its position in Cummins Inc. (NYSE:CMI) by 7.1% during the first quarter, HoldingsChannel.com reports. The fund owned 823 shares of the company’s stock after selling 63 shares during the quarter. L.M. Kohn & Company’s holdings in Cummins were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CMI. BankPlus Trust Department acquired a new stake in shares of Cummins in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its stake in Cummins by 208.0% in the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 52 shares in the last quarter. TCTC Holdings LLC purchased a new stake in Cummins in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in Cummins in the 4th quarter valued at approximately $30,000. Finally, Capital A Wealth Management LLC purchased a new stake in Cummins in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.1%

Shares of Cummins stock opened at $314.57 on Friday. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $387.90. The firm has a market cap of $43.34 billion, a PE ratio of 15.65, a P/E/G ratio of 1.90 and a beta of 1.04. The business’s fifty day moving average is $311.12 and its two-hundred day moving average is $334.91. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40.

Cummins (NYSE:CMI) last issued its earnings results on Monday, May 5th. The company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $4.92 by $1.04. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.22 billion. Cummins had a return on equity of 26.88% and a net margin of 8.20%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $5.08 EPS. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is currently 36.22%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Cummins from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised Cummins from a “neutral” rating to a “buy” rating and upped their target price for the company from $410.00 to $431.00 in a research note on Tuesday, May 27th. Robert W. Baird reduced their target price on Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Citigroup upped their target price on Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, Wall Street Zen lowered Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $357.25.

Insider Buying and Selling

In other news, Director John H. Stone bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average cost of $332.08 per share, with a total value of $332,080.00. Following the transaction, the director now owns 2,441 shares of the company’s stock, valued at $810,607.28. This represents a 69.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Cummins Company Profile

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.