Cummins Inc. (NYSE:CMI) Position Trimmed by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,322 shares of the company’s stock after selling 45 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Cummins were worth $4,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in Cummins in the third quarter worth approximately $25,000. Silver Oak Securities Incorporated bought a new position in shares of Cummins during the 3rd quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Cummins in the fourth quarter worth $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Cummins in the third quarter worth $39,000. Finally, Peoples Bank KS acquired a new position in Cummins during the third quarter worth $43,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMI has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. TD Cowen boosted their target price on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Citigroup raised their price target on Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $282.55.

Insider Activity

In related news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares in the company, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,289 shares of company stock worth $13,576,838. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of Cummins stock traded up $2.85 during trading on Monday, hitting $283.59. 650,107 shares of the company’s stock traded hands, compared to its average volume of 2,574,266. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The company has a market cap of $38.79 billion, a PE ratio of 20.80, a PEG ratio of 1.90 and a beta of 1.04. The firm’s fifty day moving average price is $285.39 and its 200 day moving average price is $252.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is 49.19%.

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.