DDD Partners LLC Sells 388 Shares of Cummins Inc. (NYSE:CMI)

DDD Partners LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,859 shares of the company’s stock after selling 388 shares during the period. Cummins makes up about 2.4% of DDD Partners LLC’s investment portfolio, making the stock its 18th largest position. DDD Partners LLC owned about 0.05% of Cummins worth $17,934,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMI. Vanguard Group Inc. boosted its stake in Cummins by 13.1% during the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock worth $4,057,750,000 after buying an additional 2,055,239 shares during the period. Norges Bank purchased a new position in Cummins during the fourth quarter worth $292,182,000. iA Global Asset Management Inc. purchased a new position in Cummins during the third quarter worth $71,268,000. Envestnet Asset Management Inc. boosted its stake in Cummins by 88.9% during the third quarter. Envestnet Asset Management Inc. now owns 584,163 shares of the company’s stock worth $133,458,000 after buying an additional 274,927 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Cummins by 28.2% during the third quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock worth $244,710,000 after buying an additional 235,372 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

CMI opened at $294.69 on Thursday. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $297.11. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. The company has a market cap of $41.80 billion, a P/E ratio of 56.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.03. The firm’s 50-day moving average price is $260.31 and its 200-day moving average price is $240.49.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the company earned $4.52 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 18.36 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.28%. Cummins’s dividend payout ratio (DPR) is currently 129.73%.

Insider Activity

In related news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the sale, the vice president now owns 17,874 shares in the company, valued at $4,685,847.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Daniel William Fisher bought 562 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $266.57 per share, for a total transaction of $149,812.34. Following the completion of the transaction, the director now directly owns 1,068 shares in the company, valued at $284,696.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock worth $13,576,838 over the last 90 days. 1.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday. Morgan Stanley began coverage on shares of Cummins in a research note on Monday, January 8th. They set an “overweight” rating and a $278.00 target price for the company. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. TD Cowen boosted their target price on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial initiated coverage on shares of Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $271.64.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.