Seizert Capital Partners LLC Reduces Holdings in Cummins Inc. $CMI

Seizert Capital Partners LLC lowered its position in Cummins Inc. (NYSE:CMI) by 39.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,552 shares of the company’s stock after selling 1,028 shares during the quarter. Seizert Capital Partners LLC’s holdings in Cummins were worth $656,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new position in Cummins during the 2nd quarter valued at about $31,000. Salomon & Ludwin LLC boosted its position in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the period. Tripletail Wealth Management LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $39,000. CNB Bank bought a new position in shares of Cummins during the second quarter valued at approximately $43,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Cummins by 1,414.3% in the third quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $45,000 after buying an additional 99 shares during the period. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the sale, the insider owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the sale, the chief financial officer directly owned 31,582 shares in the company, valued at $14,864,384.12. This trade represents a 29.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 19,330 shares of company stock valued at $9,135,364. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of a number of recent analyst reports. Wells Fargo & Company started coverage on Cummins in a report on Thursday, November 13th. They set an “overweight” rating and a $599.00 price objective for the company. Barclays reissued a “positive” rating on shares of Cummins in a research note on Friday, December 19th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Truist Financial lifted their price objective on shares of Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Argus boosted their price objective on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $513.07.

Cummins Stock Performance

Shares of Cummins stock opened at $565.86 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average price is $514.41 and its 200-day moving average price is $441.01. The firm has a market cap of $78.11 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.03 and a beta of 1.12. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $583.08.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The company had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.86 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.