Aurora Investment Counsel Trims Holdings in Cummins Inc. (NYSE:CMI)

Aurora Investment Counsel trimmed its stake in shares of Cummins Inc. (NYSE:CMI) by 29.6% during the second quarter, HoldingsChannel.com reports. The firm owned 6,403 shares of the company’s stock after selling 2,690 shares during the quarter. Aurora Investment Counsel’s holdings in Cummins were worth $1,773,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CMI. Steward Partners Investment Advisory LLC increased its position in shares of Cummins by 8.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,531 shares of the company’s stock valued at $1,325,000 after buying an additional 450 shares during the period. California State Teachers Retirement System grew its stake in Cummins by 1.0% during the fourth quarter. California State Teachers Retirement System now owns 216,277 shares of the company’s stock valued at $51,813,000 after acquiring an additional 2,044 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Cummins by 80.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 2,318 shares of the company’s stock worth $555,000 after acquiring an additional 1,036 shares during the period. KBC Group NV lifted its stake in Cummins by 283.2% in the 4th quarter. KBC Group NV now owns 77,585 shares of the company’s stock worth $18,587,000 after purchasing an additional 57,341 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Cummins by 54.8% in the 4th quarter. Jones Financial Companies Lllp now owns 633 shares of the company’s stock valued at $152,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMI. Robert W. Baird upped their price target on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Evercore ISI upped their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on Cummins from $275.00 to $285.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Barclays upped their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Citigroup assumed coverage on shares of Cummins in a research report on Wednesday, June 26th. They set a “buy” rating and a $320.00 target price for the company. Two equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $299.55.

Cummins Trading Down 0.9 %

CMI stock opened at $323.47 on Tuesday. Cummins Inc. has a one year low of $212.80 and a one year high of $333.43. The company has a market capitalization of $44.24 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.81 and a beta of 0.98. The company’s 50 day moving average price is $301.00 and its two-hundred day moving average price is $290.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter last year, the company earned $5.18 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Friday, August 23rd were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, August 23rd. This is a boost from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a yield of 2.25%. Cummins’s dividend payout ratio is currently 53.29%.

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.