Schechter Investment Advisors LLC Sells 100 Shares of Cummins Inc. (NYSE:CMI)

Schechter Investment Advisors LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,198 shares of the company’s stock after selling 100 shares during the period. Schechter Investment Advisors LLC’s holdings in Cummins were worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. Synovus Financial Corp raised its position in Cummins by 254.4% during the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock valued at $1,242,000 after purchasing an additional 4,378 shares during the last quarter. Cibc World Market Inc. raised its position in Cummins by 65.4% during the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after purchasing an additional 7,191 shares during the last quarter. Sei Investments Co. raised its position in Cummins by 16.1% during the 1st quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after purchasing an additional 13,058 shares during the last quarter. Prudential PLC bought a new position in Cummins during the 1st quarter valued at approximately $711,000. Finally, Cetera Investment Advisers raised its position in Cummins by 43.0% during the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock valued at $1,313,000 after purchasing an additional 1,925 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. UBS Group upgraded Cummins from a “neutral” rating to a “buy” rating and upped their price target for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. TD Cowen upped their price target on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $271.64.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now directly owns 2,698 shares of the company’s stock, valued at $720,123.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Corporate insiders own 1.05% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $294.69 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The stock has a 50-day simple moving average of $260.31 and a two-hundred day simple moving average of $240.49. The firm has a market capitalization of $41.80 billion, a PE ratio of 56.89, a P/E/G ratio of 1.95 and a beta of 1.03. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $297.11.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the firm posted $4.52 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 18.36 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.28%. Cummins’s dividend payout ratio is 129.73%.

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.