Morgan Dempsey Capital Management LLC Sells 1,441 Shares of Cummins Inc. $CMI

Morgan Dempsey Capital Management LLC lowered its position in Cummins Inc. (NYSE:CMI) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,817 shares of the company’s stock after selling 1,441 shares during the period. Cummins makes up about 3.4% of Morgan Dempsey Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Morgan Dempsey Capital Management LLC’s holdings in Cummins were worth $7,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nicolet Advisory Services LLC grew its holdings in Cummins by 1.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after buying an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings 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 buying an additional 18 shares during the last quarter. Financial Consulate Inc. grew its holdings in Cummins by 16.8% during the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after buying an additional 18 shares during the last quarter. ICW Investment Advisors LLC grew its holdings in Cummins by 2.6% during the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock valued at $369,000 after buying an additional 18 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its holdings in Cummins by 1.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock valued at $947,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the transaction, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% 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, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the transaction, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,579 shares of company stock valued at $9,377,684 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Truist Financial set a $815.00 target price on Cummins in a report on Wednesday, May 6th. Argus increased their target price on Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a report on Monday, June 1st. Evercore reiterated an “outperform” rating and set a $845.00 target price on shares of Cummins in a report on Monday, May 11th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average target price of $726.14.

Cummins Stock Performance

NYSE CMI opened at $659.77 on Monday. The business’s 50-day moving average price is $648.43 and its 200 day moving average price is $583.95. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a market capitalization of $91.04 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the business posted $5.96 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $2.00 per share. The ex-dividend date was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio is 41.52%.

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.