Larson Financial Group LLC Sells 1,106 Shares of Cummins Inc. $CMI

Larson Financial Group LLC reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,339 shares of the company’s stock after selling 1,106 shares during the period. Larson Financial Group LLC’s holdings in Cummins were worth $5,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB grew its position in Cummins by 55.3% during the fourth quarter. Handelsbanken Fonder AB now owns 2,477 shares of the company’s stock valued at $1,264,000 after acquiring an additional 882 shares during the last quarter. Csenge Advisory Group grew its position in Cummins by 7.2% during the fourth quarter. Csenge Advisory Group now owns 6,531 shares of the company’s stock valued at $3,334,000 after acquiring an additional 441 shares during the last quarter. ProShare Advisors LLC grew its position in Cummins by 9.5% during the fourth quarter. ProShare Advisors LLC now owns 25,618 shares of the company’s stock valued at $13,077,000 after acquiring an additional 2,230 shares during the last quarter. Frisch Financial Group Inc. bought a new position in Cummins during the fourth quarter valued at approximately $271,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in Cummins by 24.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,156 shares of the company’s stock valued at $2,632,000 after acquiring an additional 1,009 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup increased their price target on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on shares of Cummins in a report on Wednesday, May 6th. Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price on the stock. in a research note on Monday, January 26th. Barclays lifted their target price on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $677.87.

Insiders Place Their Bets

In related news, VP Nathan R. Stoner sold 607 shares of Cummins stock in a transaction on Monday, May 11th. The shares were sold at an average price of $694.06, for a total value of $421,294.42. Following the sale, the vice president owned 9,447 shares in the company, valued at $6,556,784.82. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the sale, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,397 shares of company stock valued at $14,465,833 over the last quarter. 0.30% of the stock is owned by company insiders.

Cummins Stock Down 2.8%

Shares of NYSE CMI opened at $677.20 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The firm’s fifty day moving average is $603.93 and its 200 day moving average is $557.42. The company has a market cap of $93.45 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 1.76 and a beta of 1.27.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the firm earned $5.96 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be issued a $2.00 dividend. The ex-dividend date is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s payout ratio is 41.52%.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.