Koshinski Asset Management Inc. Has $447,000 Stock Position in Cummins Inc. $CMI

Koshinski Asset Management Inc. lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,364 shares of the company’s stock after selling 105 shares during the period. Koshinski Asset Management Inc.’s holdings in Cummins were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CMI. Olde Wealth Management LLC acquired a new position in shares of Cummins during the first quarter valued at about $30,000. Accredited Wealth Management LLC bought a new stake in shares of Cummins during the first quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in shares of Cummins during the first quarter worth about $39,000. Costello Asset Management INC bought a new stake in shares of Cummins during the first quarter worth about $40,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Cummins during the first quarter worth about $41,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the completion of the sale, the vice president directly owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. The trade was a 19.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Luther E. Peters sold 4,850 shares of Cummins stock in a transaction on Friday, August 8th. The stock was sold at an average price of $389.19, for a total transaction of $1,887,571.50. Following the sale, the vice president directly owned 7,693 shares of the company’s stock, valued at $2,994,038.67. This represents a 38.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,119 shares of company stock worth $17,674,285. 0.41% of the stock is owned by corporate insiders.

Cummins Stock Up 0.6%

CMI opened at $414.13 on Tuesday. The company has a 50 day moving average of $411.61 and a 200 day moving average of $354.33. The company has a market cap of $57.06 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $440.51. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the firm earned $5.26 EPS. Cummins’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, November 21st will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 21st. Cummins’s dividend payout ratio (DPR) is presently 37.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Melius Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a research note on Monday, August 11th. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and a consensus price target of $410.50.

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.