Eagle Bluffs Wealth Management LLC Cuts Stock Holdings in Cummins Inc. (NYSE:CMI)

Eagle Bluffs Wealth Management LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,885 shares of the company’s stock after selling 141 shares during the quarter. Eagle Bluffs Wealth Management LLC’s holdings in Cummins were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Cummins in the second quarter valued at approximately $28,000. Cultivar Capital Inc. purchased a new stake in shares of Cummins during the 2nd quarter worth $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins during the 2nd quarter worth $29,000. LRI Investments LLC purchased a new position in shares of Cummins in the 1st quarter valued at about $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CMI shares. Barclays upped their target price on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday. Citigroup raised their price objective on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cummins currently has an average rating of “Hold” and a consensus price target of $324.83.

Cummins Trading Up 0.5 %

Shares of CMI stock opened at $356.46 on Friday. Cummins Inc. has a twelve month low of $214.57 and a twelve month high of $370.21. The company has a market capitalization of $48.90 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.01 and a beta of 0.97. The firm has a 50-day moving average price of $322.99 and a 200 day moving average price of $299.12. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $4.73 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Research analysts forecast that Cummins Inc. will post 20.17 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

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.