Advisor OS LLC Sells 54 Shares of Cummins Inc. (NYSE:CMI)

Advisor OS LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,372 shares of the company’s stock after selling 54 shares during the quarter. Advisor OS LLC’s holdings in Cummins were worth $380,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew 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 during the last quarter. Fisher Asset Management LLC grew its stake in shares of Cummins by 4.1% in the fourth quarter. Fisher Asset Management LLC now owns 2,587,895 shares of the company’s stock worth $619,982,000 after acquiring an additional 103,018 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cummins by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,673,737 shares of the company’s stock worth $400,990,000 after acquiring an additional 96,387 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Cummins by 3.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,430,966 shares of the company’s stock worth $342,817,000 after buying an additional 43,090 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Cummins by 4.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,398,061 shares of the company’s stock worth $334,933,000 after buying an additional 64,365 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s 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 directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Cummins Price Performance

Cummins stock opened at $293.21 on Friday. The firm has a market capitalization of $40.11 billion, a P/E ratio of 21.46, a PEG ratio of 1.82 and a beta of 0.98. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $322.83. The business has a 50-day moving average of $292.17 and a 200-day moving average of $286.04. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.18 EPS. On average, equities analysts anticipate that Cummins Inc. will post 19.66 EPS for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.48%. This is a boost from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date was Friday, August 23rd. Cummins’s dividend payout ratio is presently 53.29%.

Analysts Set New Price Targets

CMI has been the topic of a number of recent research reports. Raymond James initiated coverage on shares of Cummins in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Citigroup began coverage on shares of Cummins in a research note on Wednesday, June 26th. They set a “buy” rating and a $320.00 price target on the stock. Evercore ISI lifted their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on Cummins from $275.00 to $285.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $299.55.

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.