DHJJ Financial Advisors Ltd. Cuts Stake in Cummins Inc. $CMI

DHJJ Financial Advisors Ltd. cut its stake in Cummins Inc. (NYSE:CMI) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131 shares of the company’s stock after selling 30 shares during the quarter. DHJJ Financial Advisors Ltd.’s holdings in Cummins were worth $43,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Cummins by 1.9% in the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock valued at $5,417,331,000 after purchasing an additional 321,823 shares during the period. Northern Trust Corp raised its position in Cummins by 1.2% in the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after purchasing an additional 22,202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cummins by 0.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,634,580 shares of the company’s stock valued at $512,343,000 after purchasing an additional 8,487 shares during the period. Raymond James Financial Inc. raised its position in Cummins by 152.3% in the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock valued at $424,414,000 after purchasing an additional 817,384 shares during the period. Finally, Invesco Ltd. raised its position in Cummins by 11.6% in the first quarter. Invesco Ltd. now owns 1,215,956 shares of the company’s stock valued at $381,129,000 after purchasing an additional 126,362 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Up 0.1%

NYSE:CMI opened at $432.87 on Friday. The company has a market capitalization of $59.65 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 2.09 and a beta of 1.04. Cummins Inc. has a one year low of $260.02 and a one year high of $437.66. The stock has a 50-day simple moving average of $400.74 and a 200 day simple moving average of $345.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.21 by $1.22. The business 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 company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $5.26 earnings per share. Sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.8%. This is a positive change from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date was Friday, August 22nd. Cummins’s payout ratio is 37.61%.

Insiders Place Their Bets

In related news, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the completion of the transaction, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. This trade represents a 66.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Andrew Smith sold 6,500 shares of Cummins stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $405.00, for a total value of $2,632,500.00. Following the completion of the transaction, the chief financial officer owned 31,582 shares of the company’s stock, valued at $12,790,710. This trade represents a 17.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,119 shares of company stock valued at $14,159,885. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMI shares. Melius Research raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, September 3rd. Wolfe Research raised Cummins from a “hold” rating to an “outperform” rating in a research report on Monday, August 11th. Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cummins in a research report on Saturday, September 27th. Finally, Citigroup lifted their target price on Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus price target of $393.57.

Cummins 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.