MONECO Advisors LLC Sells 147 Shares of Cummins Inc. (NYSE:CMI)

MONECO Advisors LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,178 shares of the company’s stock after selling 147 shares during the period. MONECO Advisors LLC’s holdings in Cummins were worth $522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Balentine LLC lifted its position in Cummins by 3.3% during the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after acquiring an additional 127 shares during the period. Sequoia Financial Advisors LLC lifted its position in Cummins by 200.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after acquiring an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in Cummins during the 3rd quarter valued at about $9,048,000. KBC Group NV lifted its position in Cummins by 283.2% during the 4th quarter. KBC Group NV now owns 77,585 shares of the company’s stock valued at $18,587,000 after acquiring an additional 57,341 shares during the period. Finally, Beacon Financial Group increased its stake in Cummins by 7.0% during the 4th quarter. Beacon Financial Group now owns 1,933 shares of the company’s stock valued at $463,000 after purchasing an additional 126 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CMI shares. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Evercore ISI lifted their price target on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird reduced their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has an average rating of “Hold” and an average target price of $284.36.

Cummins Stock Performance

Shares of NYSE CMI opened at $269.91 on Tuesday. The firm has a 50 day moving average of $285.45 and a 200 day moving average of $266.16. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $36.92 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.66 and a beta of 1.02. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $304.24.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. On average, research analysts anticipate that Cummins Inc. will post 18.84 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were issued a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio is currently 49.19%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $285.11 per share, with a total value of $80,401.02. Following the completion of the acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

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.