O Brien Greene & Co. Inc Sells 300 Shares of Cummins Inc. $CMI

O Brien Greene & Co. Inc decreased its position in Cummins Inc. (NYSE:CMI) by 6.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,708 shares of the company’s stock after selling 300 shares during the period. O Brien Greene & Co. Inc’s holdings in Cummins were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after buying an additional 83 shares in the last quarter. Stratos Investment Management LLC bought a new position in Cummins in the 1st quarter worth approximately $201,000. Stratos Wealth Partners LTD. lifted its stake in shares of Cummins by 16.7% during the first quarter. Stratos Wealth Partners LTD. now owns 2,136 shares of the company’s stock valued at $670,000 after acquiring an additional 306 shares during the period. Rehmann Capital Advisory Group lifted its position in Cummins by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 3,198 shares of the company’s stock valued at $1,003,000 after purchasing an additional 62 shares during the period. Finally, Bridges Investment Management Inc. boosted its stake in Cummins by 19.1% in the first quarter. Bridges Investment Management Inc. now owns 810 shares of the company’s stock valued at $254,000 after acquiring an additional 130 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a report on Monday, August 11th. Wolfe Research raised Cummins from a “hold” rating to an “outperform” rating in a report on Monday, August 11th. JPMorgan Chase & Co. increased their price target on Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Truist Financial boosted their target price on shares of Cummins from $380.00 to $434.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cummins in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $415.15.

Insider Activity at Cummins

In related news, VP Amy Rochelle Davis sold 5,002 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the transaction, the vice president directly owned 20,738 shares of the company’s stock, valued at $8,354,925.44. This represents a 19.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Andrew Smith sold 8,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $439.30, for a total value of $3,514,400.00. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at approximately $13,873,972.60. This represents a 20.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,949 shares of company stock worth $15,674,705 over the last quarter. 0.41% of the stock is currently owned by insiders.

Cummins Stock Performance

NYSE CMI opened at $462.18 on Friday. The company has a market capitalization of $63.68 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.05 and a beta of 1.07. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $482.53. The stock has a fifty day simple moving average of $419.28 and a 200 day simple moving average of $367.16. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter in the prior year, the firm posted $5.86 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be paid a $2.00 dividend. The ex-dividend date is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.7%. Cummins’s payout ratio is currently 37.61%.

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.