Cummins Inc. $CMI Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. lessened its stake in Cummins Inc. (NYSE:CMI) by 72.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,445 shares of the company’s stock after selling 3,795 shares during the period. Machina Capital S.A.S.’s holdings in Cummins were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CMI. Brighton Jones LLC raised its holdings in Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the period. World Investment Advisors increased its holdings in shares of Cummins by 157.6% in the first quarter. World Investment Advisors now owns 2,280 shares of the company’s stock valued at $715,000 after purchasing an additional 1,395 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Cummins by 15.0% during the first quarter. Envestnet Asset Management Inc. now owns 770,571 shares of the company’s stock worth $241,528,000 after acquiring an additional 100,313 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Cummins by 4,533.3% during the first quarter. Raleigh Capital Management Inc. now owns 834 shares of the company’s stock worth $261,000 after acquiring an additional 816 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Cummins by 8.1% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 8,109 shares of the company’s stock worth $2,542,000 after buying an additional 610 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Stock Down 2.1%

CMI opened at $428.58 on Wednesday. The business has a 50 day moving average price of $417.32 and a two-hundred day moving average price of $365.98. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The company has a market cap of $59.05 billion, a PE ratio of 20.15, a P/E/G ratio of 2.05 and a beta of 1.04. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $449.21.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.21 by $1.22. The firm had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.26 EPS. As a group, research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 annualized dividend and a yield of 1.9%. Cummins’s dividend payout ratio is currently 37.61%.

Insider Buying and Selling

In other Cummins news, Director Karen H. Quintos sold 1,307 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total transaction of $529,766.31. Following the transaction, the director owned 5,227 shares in the company, valued at approximately $2,118,659.91. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the transaction, the vice president owned 20,738 shares in the company, valued at $8,354,925.44. The trade was a 19.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,319 shares of company stock valued at $17,764,105 in the last quarter. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Robert W. Baird raised their price target on Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Wells Fargo & Company raised Cummins to an “overweight” rating in a report on Monday, August 11th. Citigroup lifted their price target on Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Melius Research raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, September 3rd. Finally, Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $410.50.

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.