Savant Capital LLC Has $1.21 Million Position in Cummins Inc. (NYSE:CMI)

Savant Capital LLC reduced its stake in Cummins Inc. (NYSE:CMI) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,034 shares of the company’s stock after selling 69 shares during the period. Savant Capital LLC’s holdings in Cummins were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of Cummins during the third quarter worth approximately $25,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the 3rd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Cummins in the third quarter worth approximately $39,000. Peoples Bank KS bought a new position in shares of Cummins in the third quarter valued at approximately $43,000. Finally, Planned Solutions Inc. purchased a new position in shares of Cummins during the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

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

Cummins Stock Up 0.2 %

Cummins stock opened at $280.74 on Friday. The firm has a 50 day simple moving average of $285.06 and a 200 day simple moving average of $252.19. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 54.20, a P/E/G ratio of 1.93 and a beta of 1.04.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 earnings per share. On average, analysts predict that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were paid a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. Cummins’s dividend payout ratio is currently 129.73%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CMI shares. Citigroup lifted their price objective on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley initiated coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price for the company. TheStreet lowered Cummins from an “a-” rating to a “c+” rating in a report on Tuesday, February 6th. Finally, TD Cowen upped their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $282.55.

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.