Franklin Street Advisors Inc. NC Trims Holdings in Cummins Inc. (NYSE:CMI)

Franklin Street Advisors Inc. NC reduced its position in Cummins Inc. (NYSE:CMI) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,024 shares of the company’s stock after selling 1,991 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Cummins were worth $8,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. KB Financial Partners LLC boosted its holdings in Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after buying an additional 45 shares during the period. Columbia Trust Co 01012016 boosted its stake in shares of Cummins by 1.2% in the third quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock worth $949,000 after acquiring an additional 48 shares during the period. Spears Abacus Advisors LLC grew its position in shares of Cummins by 5.1% during the first quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock worth $235,000 after purchasing an additional 48 shares in the last quarter. Peloton Wealth Strategists raised its stake in Cummins by 0.4% during the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after purchasing an additional 50 shares during the period. Finally, D.B. Root & Company LLC lifted its holdings in Cummins by 0.9% in the 4th quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock worth $1,277,000 after purchasing an additional 50 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on shares of Cummins from $231.00 to $244.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Citigroup lifted their price target on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Finally, StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus price target of $271.64.

Cummins Trading Down 0.0 %

Shares of CMI stock opened at $294.65 on Friday. The company has a market cap of $41.80 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $297.11. The stock’s 50 day simple moving average is $261.54 and its two-hundred day simple moving average is $240.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.52 EPS. Research analysts predict that Cummins Inc. will post 18.36 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the sale, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares in the company, valued at approximately $4,584,529.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the purchase, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. Company insiders own 1.12% of the company’s stock.

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.