SFE Investment Counsel Acquires 192 Shares of Cummins Inc. $CMI

SFE Investment Counsel increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 24,530 shares of the company’s stock after acquiring an additional 192 shares during the quarter. Cummins comprises about 1.4% of SFE Investment Counsel’s holdings, making the stock its 20th biggest holding. SFE Investment Counsel’s holdings in Cummins were worth $8,034,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Accredited Wealth Management LLC acquired a new position in shares of Cummins in the first quarter valued at $31,000. Richardson Financial Services Inc. bought a new stake in shares of Cummins during the 1st quarter worth about $39,000. Costello Asset Management INC acquired a new position in Cummins in the 1st quarter valued at about $40,000. Wealth Preservation Advisors LLC bought a new position in Cummins in the 1st quarter valued at about $41,000. Finally, CNB Bank acquired a new stake in Cummins during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 2.4%

CMI opened at $474.10 on Friday. The company has a market cap of $65.32 billion, a P/E ratio of 22.29, a PEG ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $420.80 and its 200-day moving average is $369.17. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $482.53.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same quarter in the prior year, the firm earned $5.86 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 21st. Cummins’s dividend payout ratio is presently 41.52%.

Insider Transactions at Cummins

In other news, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the sale, the vice president directly owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This trade represents a 19.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the sale, the vice president owned 955 shares in the company, valued at approximately $384,158.30. This trade represents a 66.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,949 shares of company stock worth $15,674,705. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cummins in a research report on Wednesday. Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, September 3rd. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Barclays raised their price target on shares of Cummins from $387.00 to $430.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Ten equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $428.93.

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.