Koshinski Asset Management Inc. Has $225,000 Stake in Cummins Inc. (NYSE:CMI)

Koshinski Asset Management Inc. trimmed its stake in Cummins Inc. (NYSE:CMI) by 42.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 938 shares of the company’s stock after selling 688 shares during the period. Koshinski Asset Management Inc.’s holdings in Cummins were worth $225,000 at the end of the most recent quarter.

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

Cummins Price Performance

Shares of NYSE CMI opened at $294.58 on Wednesday. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The firm’s 50-day simple moving average is $277.85 and its 200 day simple moving average is $247.32. 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 market cap of $40.29 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 2.03 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the business earned $4.52 EPS. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that Cummins Inc. will post 18.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following 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 SEC, which is available through this link. In other news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the sale, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective on the stock. Citigroup increased their price objective on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. The Goldman Sachs Group increased their price objective on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday. TD Cowen raised their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $279.70.

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.