Curated Wealth Partners LLC Sells 626,938 Shares of Cummins Inc. $CMI

Curated Wealth Partners LLC lowered its position in Cummins Inc. (NYSE:CMI – Free Report) by 99.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,604 shares of the company’s stock after selling 626,938 shares during the quarter. Curated Wealth Partners LLC’s holdings in Cummins were worth $1,345,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CMI. HBW Advisory Services LLC grew its holdings in shares of Cummins by 253.3% during the third quarter. HBW Advisory Services LLC now owns 1,650 shares of the company’s stock worth $852,000 after purchasing an additional 1,183 shares in the last quarter. KG Capital Management lifted its position in Cummins by 93.3% during the third quarter. KG Capital Management now owns 7,238 shares of the company’s stock valued at $3,739,000 after purchasing an additional 3,493 shares during the last quarter. Mather Group LLC. grew its stake in Cummins by 702.9% in the 3rd quarter. Mather Group LLC. now owns 26,631 shares of the company’s stock worth $13,757,000 after buying an additional 23,314 shares in the last quarter. Hudock Inc. grew its stake in Cummins by 182.9% in the 3rd quarter. Hudock Inc. now owns 2,470 shares of the company’s stock worth $1,276,000 after buying an additional 1,597 shares in the last quarter. Finally, First Pacific Financial grew its stake in Cummins by 2.7% in the 3rd quarter. First Pacific Financial now owns 2,469 shares of the company’s stock worth $1,246,000 after buying an additional 66 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, VP Earl Newsome sold 698 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the transaction, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Cummins Trading Down 0.4%

Shares of CMI traded down $1.84 during trading hours on Thursday, hitting $524.12. The company had a trading volume of 431,950 shares, compared to its average volume of 985,426. The firm has a market cap of $72.15 billion, a P/E ratio of 26.81, a P/E/G ratio of 1.39 and a beta of 1.24. The stock’s 50 day moving average price is $560.36 and its 200 day moving average price is $620.42. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 52-week low of $405.82 and a 52-week high of $737.76.

Cummins (NYSE:CMI – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. During the same period last year, the firm posted $6.43 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts predict that Cummins Inc. will post 30.10 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 20th. Cummins’s dividend payout ratio is 44.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMI. JPMorgan Chase & Co. cut their target price on shares of Cummins from $690.00 to $600.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Citigroup reduced their price objective on Cummins from $790.00 to $630.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. Finally, Evercore decreased their price objective on Cummins from $845.00 to $782.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average price target of $708.18.

Get Our Latest Analysis on CMI

About Cummins

(Free Report)

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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