Cummins Inc. (NYSE:CMI) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lessened its stake in shares of Cummins Inc. (NYSE:CMI) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149 shares of the company’s stock after selling 487 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Cummins were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC lifted its stake in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Cummins by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after acquiring an additional 604,735 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Cummins in the second quarter worth about $68,018,000. Finally, SG Americas Securities LLC lifted its stake in shares of Cummins by 1,012.0% in the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after acquiring an additional 179,346 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. This represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,576 shares of company stock worth $9,033,945 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent analyst reports. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $334.33.

Cummins Stock Performance

Shares of CMI stock opened at $361.85 on Friday. Cummins Inc. has a 12-month low of $220.02 and a 12-month high of $370.21. The firm has a market capitalization of $49.64 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. The business has a 50 day simple moving average of $327.55 and a 200 day simple moving average of $301.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.73 EPS. On average, equities research analysts anticipate that Cummins Inc. will post 20.61 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. Cummins’s dividend payout ratio (DPR) is 48.08%.

About Cummins

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.