Cummins Inc. (NYSE:CMI) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,075 shares of the company’s stock after selling 35 shares during the period. Baldwin Investment Management LLC’s holdings in Cummins were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Cultivar Capital Inc. acquired a new position in Cummins in the second quarter valued at $28,000. Prospera Private Wealth LLC purchased a new stake in shares of Cummins during the 3rd quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Cummins in the second quarter valued at approximately $28,000. Lynx Investment Advisory acquired a new position in Cummins during the second quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Cummins in the first quarter worth $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Cummins Trading Up 0.6 %

NYSE:CMI opened at $377.59 on Wednesday. The firm has a market capitalization of $51.80 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.82 and a beta of 0.97. The business has a 50 day simple moving average of $338.79 and a 200 day simple moving average of $305.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 12-month low of $222.04 and a 12-month high of $377.69.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.73 earnings per share. Equities research analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.93%. Cummins’s dividend payout ratio is presently 48.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CMI. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Citigroup lifted their price target on shares of Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $337.67.

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.