Gladstone Institutional Advisory LLC Reduces Stake in Cummins Inc. (NYSE:CMI)

Gladstone Institutional Advisory LLC reduced its position in Cummins Inc. (NYSE:CMI) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,344 shares of the company’s stock after selling 48 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Cummins were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. Compass Financial Services Inc bought a new position in Cummins in the 4th quarter worth $27,000. Prospera Private Wealth LLC bought a new position in Cummins in the 3rd quarter worth $32,000. Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter worth $55,000. Finally, Friedenthal Financial bought a new position in Cummins in the 4th quarter worth $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Robert W. Baird raised their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. Barclays raised their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, 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, November 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $383.08.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Cummins Trading Up 1.2 %

Shares of CMI stock opened at $373.71 on Friday. Cummins Inc. has a 12-month low of $259.06 and a 12-month high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $361.20 and its 200-day moving average price is $338.14. The stock has a market capitalization of $51.38 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.14 earnings per share. Equities research analysts predict that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.95%. Cummins’s dividend payout ratio is currently 25.84%.

About Cummins

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.