SFE Investment Counsel Sells 1,153 Shares of Cummins Inc. (NYSE:CMI)

SFE Investment Counsel lowered its position in Cummins Inc. (NYSE:CMI) by 4.3% during the 4th quarter, HoldingsChannel reports. The fund owned 25,736 shares of the company’s stock after selling 1,153 shares during the period. Cummins comprises about 1.9% of SFE Investment Counsel’s investment portfolio, making the stock its 15th largest holding. SFE Investment Counsel’s holdings in Cummins were worth $8,972,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. KG&L Capital Management LLC raised its stake in Cummins by 0.8% in the 4th 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 last quarter. Chicago Capital LLC lifted its position in Cummins by 0.9% during the 3rd 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 grew its stake in Cummins by 0.6% during the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after purchasing an additional 30 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings 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 purchasing an additional 31 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 2.3 %

Shares of NYSE:CMI opened at $364.08 on Thursday. Cummins Inc. has a 52-week low of $250.90 and a 52-week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business has a fifty day moving average of $361.39 and a two-hundred day moving average of $337.92. The stock has a market cap of $49.94 billion, a P/E ratio of 12.92, a PEG ratio of 2.10 and a beta of 1.00.

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

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, February 21st. Cummins’s payout ratio is presently 25.84%.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $383.08.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by insiders.

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.