DDD Partners LLC Cuts Stock Position in Cummins Inc. (NYSE:CMI)

DDD Partners LLC lowered its position in Cummins Inc. (NYSE:CMI) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,860 shares of the company’s stock after selling 11,345 shares during the period. Cummins makes up approximately 2.8% of DDD Partners LLC’s investment portfolio, making the stock its 9th biggest holding. DDD Partners LLC’s holdings in Cummins were worth $22,610,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CMI. Exchange Traded Concepts LLC grew its holdings in shares of Cummins by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 408 shares of the company’s stock worth $132,000 after purchasing an additional 227 shares during the last quarter. Creative Planning grew its stake in Cummins by 0.3% in the 3rd quarter. Creative Planning now owns 60,996 shares of the company’s stock worth $19,750,000 after acquiring an additional 203 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Cummins by 7.2% during the third quarter. Global Retirement Partners LLC now owns 3,093 shares of the company’s stock worth $1,001,000 after acquiring an additional 209 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Cummins by 3.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,316 shares of the company’s stock valued at $4,635,000 after acquiring an additional 474 shares in the last quarter. Finally, Claro Advisors LLC purchased a new stake in shares of Cummins in the third quarter valued at approximately $522,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.2 %

Cummins stock opened at $373.71 on Monday. The business’s 50-day simple moving average is $361.09 and its two-hundred day simple moving average is $339.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. The company has a market cap of $51.27 billion, a PE ratio of 13.27, a PEG ratio of 2.10 and a beta of 1.00. Cummins Inc. has a fifty-two week low of $259.06 and a fifty-two week high of $387.90.

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

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 1.95%. Cummins’s dividend payout ratio is presently 25.84%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays upped their target price on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. The Goldman Sachs Group raised 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. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird lifted their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $383.08.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

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.