Integrated Advisors Network LLC Sells 68 Shares of Cummins Inc. (NYSE:CMI)

Integrated Advisors Network LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,884 shares of the company’s stock after selling 68 shares during the period. Integrated Advisors Network LLC’s holdings in Cummins were worth $610,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Cummins by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 410,647 shares of the company’s stock worth $120,997,000 after purchasing an additional 2,041 shares in the last quarter. Norden Group LLC bought a new position in shares of Cummins during the 1st quarter worth approximately $1,436,000. First Trust Direct Indexing L.P. lifted its position in Cummins by 11.6% during the first quarter. First Trust Direct Indexing L.P. now owns 4,474 shares of the company’s stock valued at $1,318,000 after acquiring an additional 464 shares during the last quarter. Van ECK Associates Corp boosted its stake in Cummins by 6.9% in the first quarter. Van ECK Associates Corp now owns 20,705 shares of the company’s stock valued at $6,101,000 after acquiring an additional 1,334 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in Cummins by 26.2% in the first quarter. J.W. Cole Advisors Inc. now owns 3,301 shares of the company’s stock worth $972,000 after purchasing an additional 686 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Cummins Stock Performance

CMI opened at $329.12 on Friday. The firm has a fifty day moving average price of $318.55 and a 200 day moving average price of $296.87. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $340.82. The stock has a market cap of $45.11 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion for 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%. Cummins’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $5.18 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 19.77 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.21%. Cummins’s dividend payout ratio is currently 52.49%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Evercore ISI raised their price target on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Robert W. Baird upped their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Finally, Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus target price of $311.55.

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.