Cummins Inc. $CMI Stock Holdings Decreased by Lido Advisors LLC

Lido Advisors LLC lowered its position in shares of Cummins Inc. (NYSE:CMI) by 9.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,443 shares of the company’s stock after selling 1,624 shares during the quarter. Lido Advisors LLC’s holdings in Cummins were worth $8,310,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Valmark Advisers Inc. raised its stake in Cummins by 1.9% during the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after purchasing an additional 16 shares during the period. Nicolet Advisory Services LLC boosted its position in shares of Cummins by 1.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after buying an additional 17 shares during the period. Uhlmann Price Securities LLC grew its holdings in shares of Cummins by 2.4% during the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after buying an additional 17 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after buying an additional 18 shares in the last quarter. Finally, Financial Consulate Inc. raised its position in Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.2%

Shares of NYSE CMI opened at $663.96 on Friday. The stock has a market cap of $91.62 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.62 and a beta of 1.22. The business has a 50 day simple moving average of $672.19 and a 200 day simple moving average of $619.28. Cummins Inc. has a 52 week low of $354.68 and a 52 week high of $737.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.96 earnings per share. On average, research analysts predict that Cummins Inc. will post 29.39 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be paid a dividend of $2.20 per share. This is a positive change from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. This represents a $8.80 annualized dividend and a dividend yield of 1.3%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Wall Street Analyst Weigh In

CMI has been the subject of several research analyst reports. Robert W. Baird set a $700.00 price objective on Cummins in a research note on Wednesday, May 6th. Raymond James Financial upped their target price on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Evercore reissued an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research report on Monday, May 11th. Argus upped their price objective on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, UBS Group reiterated a “buy” rating on shares of Cummins in a research report on Wednesday, June 17th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $740.07.

Insider Buying and Selling at Cummins

In other news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares in the company, valued at approximately $9,652,328.56. This trade represents a 14.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,579 shares of company stock worth $9,377,684 in the last ninety days. Company insiders own 0.30% of the company’s stock.

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.