Kessler Investment Group LLC Has $628,000 Position in Cummins Inc. (NYSE:CMI)

Kessler Investment Group LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,801 shares of the company’s stock after selling 101 shares during the quarter. Kessler Investment Group LLC’s holdings in Cummins were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMI. Global Trust Asset Management LLC lifted its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. KG&L Capital Management LLC lifted its holdings in Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after acquiring an additional 28 shares during the period. Chicago Capital LLC lifted its holdings in Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after acquiring an additional 30 shares during the period. Massachusetts Wealth Management lifted its holdings in Cummins by 0.6% during the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares during the period. Finally, Avestar Capital LLC raised its stake in shares of Cummins by 3.2% in the fourth quarter. Avestar Capital LLC now owns 987 shares of the company’s stock valued at $344,000 after buying an additional 31 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMI. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays boosted their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $383.08.

Cummins Price Performance

CMI opened at $373.71 on Friday. The stock has a 50-day moving average price of $361.20 and a 200-day moving average price of $338.14. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $51.27 billion, a P/E ratio of 13.27, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the prior year, the business earned $4.14 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by corporate insiders.

Cummins 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.