Savant Capital LLC Sells 17,290 Shares of Cummins Inc. $CMI

Savant Capital LLC lowered its holdings in Cummins Inc. (NYSE:CMI) by 73.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,108 shares of the company’s stock after selling 17,290 shares during the period. Savant Capital LLC’s holdings in Cummins were worth $3,118,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CMI. Moors & Cabot Inc. lifted its holdings in shares of Cummins by 1.0% during the 4th quarter. Moors & Cabot Inc. now owns 3,372 shares of the company’s stock worth $1,721,000 after acquiring an additional 35 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Cummins by 9.4% during the 4th quarter. Intech Investment Management LLC now owns 5,938 shares of the company’s stock worth $3,031,000 after acquiring an additional 512 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Cummins by 9.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,932 shares of the company’s stock worth $2,007,000 after acquiring an additional 329 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cummins by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after acquiring an additional 35,286 shares during the period. Finally, ICW Investment Advisors LLC lifted its holdings in shares of Cummins by 2.6% during the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after acquiring an additional 18 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $646.53 on Friday. The company has a market cap of $89.22 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $623.70 and a 200 day simple moving average of $569.87. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.96 EPS. Research analysts predict that Cummins Inc. will post 29.4 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio is presently 41.52%.

Insiders Place Their Bets

In related news, VP Donald G. Jackson sold 730 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,912,010.72. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the completion of the transaction, the vice president directly owned 15,807 shares of the company’s stock, valued at approximately $8,873,101.38. The trade was a 20.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,633 shares of company stock worth $11,653,357 over the last 90 days. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CMI shares. Barclays upped their price target on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Argus set a $696.00 price target on shares of Cummins in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average price target of $700.50.

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.