Sanctuary Advisors LLC Reduces Position in Cummins Inc. (NYSE:CMI)

Sanctuary Advisors LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,656 shares of the company’s stock after selling 859 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cummins were worth $12,105,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global Trust Asset Management LLC grew its holdings in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Cummins during the 4th quarter valued at about $27,000. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial acquired a new position in shares of Cummins during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.5 %

Shares of NYSE:CMI opened at $379.21 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The firm has a market capitalization of $52.02 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm’s 50-day moving average is $360.89 and its two-hundred day moving average is $339.87. Cummins Inc. has a 1 year low of $259.06 and a 1 year high of $387.90.

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

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.92%. Cummins’s payout ratio is 25.84%.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CMI shares. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Barclays boosted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus price target of $383.08.

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.