Yousif Capital Management LLC Sells 712 Shares of Cummins Inc. (NYSE:CMI)

Yousif Capital Management LLC reduced its stake in Cummins Inc. (NYSE:CMI) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,297 shares of the company’s stock after selling 712 shares during the period. Yousif Capital Management LLC’s holdings in Cummins were worth $5,102,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Cummins during the third quarter valued at $25,000. Silver Oak Securities Incorporated purchased a new stake in shares of Cummins during the third quarter valued at $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of Cummins during the third quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Cummins during the third quarter valued at $39,000. Finally, Peoples Bank KS purchased a new stake in shares of Cummins during the third quarter valued at $43,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at approximately $19,545,052.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 in the last quarter. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CMI shares. Citigroup raised their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. Evercore ISI raised their target price on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their target price on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $279.70.

Cummins Stock Down 0.3 %

NYSE CMI opened at $291.40 on Friday. The stock’s 50-day moving average price is $282.84 and its 200-day moving average price is $250.18. The company has a market capitalization of $39.85 billion, a P/E ratio of 56.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $304.24. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business 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 firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $4.52 EPS. On average, equities research analysts predict that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

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.