Wealthcare Advisory Partners LLC Sells 85 Shares of Cummins Inc. (NYSE:CMI)

Wealthcare Advisory Partners LLC decreased its position in Cummins Inc. (NYSE:CMI) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,606 shares of the company’s stock after selling 85 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cummins were worth $385,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Cummins during the third quarter worth $25,000. Silver Oak Securities Incorporated acquired a new position in shares of Cummins during the third quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Cummins in the 4th quarter valued at approximately $31,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Cummins during the 3rd quarter worth approximately $39,000. Finally, Peoples Bank KS bought a new stake in shares of Cummins in the third quarter worth $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMI shares. The Goldman Sachs Group boosted their price target on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen increased their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Robert W. Baird dropped their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Finally, Citigroup lifted their price target on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $282.55.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following 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 filing with the SEC, which can be accessed through the SEC website. In other Cummins news, Director Daniel William Fisher acquired 562 shares of Cummins stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the acquisition, the director now directly owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 55,169 shares of company stock valued at $14,689,855. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $294.58 on Friday. The business has a 50 day moving average of $286.48 and a 200-day moving average of $254.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $304.24. The company has a market capitalization of $40.29 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm posted $4.52 EPS. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts predict that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.28%. Cummins’s payout ratio is currently 49.19%.

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.