Cummins Inc. $CMI Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. cut its stake in shares of Cummins Inc. (NYSE:CMI) by 15.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,727 shares of the company’s stock after selling 1,058 shares during the period. Cummins makes up approximately 2.3% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 4th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Cummins were worth $2,420,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CMI. Banco Santander S.A. boosted its stake in shares of Cummins by 8.7% in the third quarter. Banco Santander S.A. now owns 12,115 shares of the company’s stock valued at $5,117,000 after purchasing an additional 965 shares during the period. Diversify Wealth Management LLC grew its stake in shares of Cummins by 2.4% during the third quarter. Diversify Wealth Management LLC now owns 11,909 shares of the company’s stock valued at $5,213,000 after acquiring an additional 277 shares in the last quarter. Xponance Inc. lifted its stake in shares of Cummins by 14.5% in the third quarter. Xponance Inc. now owns 24,316 shares of the company’s stock worth $10,270,000 after acquiring an additional 3,084 shares in the last quarter. DNB Asset Management AS increased its holdings in Cummins by 2.6% during the 3rd quarter. DNB Asset Management AS now owns 64,379 shares of the company’s stock worth $27,192,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Choreo LLC boosted its stake in shares of Cummins by 3.7% during the 3rd quarter. Choreo LLC now owns 14,779 shares of the company’s stock valued at $6,242,000 after buying an additional 527 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president owned 7,214 shares of the company’s stock, valued at $4,329,337.82. The trade was a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William I. Miller sold 18,107 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the sale, the director directly owned 34,243 shares of the company’s stock, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 27,141 shares of company stock worth $16,121,817. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research note on Friday, February 6th. Argus set a $696.00 price objective on Cummins in a report on Tuesday, February 10th. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a research note on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Cummins Trading Down 1.1%

NYSE:CMI opened at $587.60 on Friday. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.88 and a beta of 1.13. The business has a fifty day moving average of $564.97 and a 200-day moving average of $483.15. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm posted $5.16 earnings per share. Equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be given a $2.00 dividend. The ex-dividend date is Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.4%. Cummins’s payout ratio is 38.99%.

About Cummins

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.