Curat Global LLC Decreases Stake in Cummins Inc. $CMI

Curat Global LLC lowered its position in Cummins Inc. (NYSE:CMI) by 56.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,125 shares of the company’s stock after selling 1,450 shares during the period. Curat Global LLC’s holdings in Cummins were worth $574,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in Cummins by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 6,132 shares of the company’s stock worth $3,130,000 after acquiring an additional 938 shares during the last quarter. Mach 1 Financial Group LLC purchased a new stake in Cummins in the 4th quarter worth about $628,000. Fi3 FINANCIAL ADVISORS LLC purchased a new stake in Cummins in the 4th quarter worth about $247,000. Sierra Summit Advisors LLC increased its holdings in Cummins by 2.1% in the 4th quarter. Sierra Summit Advisors LLC now owns 6,824 shares of the company’s stock worth $3,483,000 after acquiring an additional 139 shares during the last quarter. Finally, MJP Associates Inc. ADV increased its holdings in Cummins by 1.6% in the 4th quarter. MJP Associates Inc. ADV now owns 1,490 shares of the company’s stock worth $761,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the transaction, the vice president owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president directly owned 7,214 shares of the company’s stock, valued at $4,329,337.82. The trade was a 18.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,397 shares of company stock valued at $14,465,833 in the last ninety days. Insiders own 0.30% of the company’s stock.

Cummins Stock Down 4.7%

CMI stock opened at $638.16 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $88.06 billion, a PE ratio of 33.12, a PEG ratio of 1.69 and a beta of 1.27. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The stock has a 50-day simple moving average of $610.34 and a two-hundred day simple moving average of $561.99.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.96 EPS. On average, equities analysts predict that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, May 22nd. Cummins’s payout ratio is presently 41.52%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial lifted their price objective on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Argus set a $696.00 price objective on Cummins in a report on Tuesday, February 10th. Wall Street Zen lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Barclays lifted their target price on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Wolfe Research lowered Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $677.87.

Cummins Profile

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.