CWA Asset Management Group LLC Sells 742 Shares of Cummins Inc. (NYSE:CMI)

CWA Asset Management Group LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,015 shares of the company’s stock after selling 742 shares during the quarter. CWA Asset Management Group LLC’s holdings in Cummins were worth $5,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Pensionfund Sabic increased its stake in shares of Cummins by 27.0% in the 4th quarter. Pensionfund Sabic now owns 4,700 shares of the company’s stock valued at $1,638,000 after acquiring an additional 1,000 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cummins by 31.1% in the 4th quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock valued at $1,084,000 after acquiring an additional 737 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Cummins by 53.1% in the 4th quarter. Versant Capital Management Inc now owns 476 shares of the company’s stock valued at $166,000 after acquiring an additional 165 shares during the last quarter. Old Port Advisors bought a new stake in shares of Cummins in the 4th quarter valued at about $215,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Cummins by 24.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 338,961 shares of the company’s stock valued at $109,752,000 after acquiring an additional 66,885 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMI. Robert W. Baird upped their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup upped their price target on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and an average target price of $356.92.

Cummins Price Performance

Shares of CMI traded up $3.12 during trading hours on Monday, hitting $357.47. 81,773 shares of the company were exchanged, compared to its average volume of 407,141. The company has a market cap of $49.04 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.80 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $359.17 and its 200 day moving average is $322.30.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $4.73 EPS. On average, equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

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.