Cummins Inc. (CMI) Shares Sold by Moody Lynn & Lieberson LLC
Moody Lynn & Lieberson LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 40.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,539 shares of the company’s stock after selling 11,385 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Cummins were worth $2,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carroll Financial Associates Inc. increased its position in shares of Cummins by 13.4% during the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock valued at $113,000 after buying an additional 83 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Cummins during the third quarter valued at about $132,000. Captrust Financial Advisors purchased a new position in shares of Cummins during the second quarter valued at about $137,000. Acrospire Investment Management LLC purchased a new position in shares of Cummins during the second quarter valued at about $146,000. Finally, First Interstate Bank increased its position in shares of Cummins by 2.7% during the second quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after buying an additional 25 shares during the period. Institutional investors own 83.85% of the company’s stock.
Shares of Cummins Inc. (NYSE CMI) traded up $0.99 during midday trading on Monday, hitting $168.95. 1,350,800 shares of the stock traded hands, compared to its average volume of 1,280,395. The company has a market capitalization of $28,180.00, a P/E ratio of 17.15, a PEG ratio of 1.38 and a beta of 1.16. Cummins Inc. has a 52-week low of $133.16 and a 52-week high of $181.79. The company has a current ratio of 1.57, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19.
Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The business’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. equities research analysts forecast that Cummins Inc. will post 10.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.56%. Cummins’s dividend payout ratio is presently 43.90%.
CMI has been the topic of several research analyst reports. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Buckingham Research initiated coverage on shares of Cummins in a research report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price target on the stock. Longbow Research cut shares of Cummins from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $159.00 price target on shares of Cummins in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. Cummins currently has a consensus rating of “Hold” and a consensus target price of $173.96.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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