Stonebrook Private Inc. Has $944,000 Holdings in Cummins Inc. $CMI

Stonebrook Private Inc. trimmed its position in Cummins Inc. (NYSE:CMI) by 63.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,849 shares of the company’s stock after selling 3,191 shares during the period. Stonebrook Private Inc.’s holdings in Cummins were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cummins by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after acquiring an additional 98,544 shares during the period. Geode Capital Management LLC raised its position in shares of Cummins by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after acquiring an additional 35,286 shares during the period. Fisher Asset Management LLC raised its position in shares of Cummins by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after acquiring an additional 43,722 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after acquiring an additional 2,434,876 shares during the period. Finally, Norges Bank acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $863,441,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This represents a 29.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. The trade was a 5.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last quarter. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CMI. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Raymond James Financial increased their target price on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on Cummins in a research note on Wednesday, May 6th. Finally, UBS Group raised Cummins from a “neutral” rating to a “buy” rating and increased their target price for the stock from $565.00 to $850.00 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.14.

Cummins Price Performance

Shares of CMI opened at $668.73 on Wednesday. The stock has a market capitalization of $92.28 billion, a P/E ratio of 34.70, a P/E/G ratio of 1.64 and a beta of 1.23. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a 50 day moving average of $641.50 and a 200-day moving average of $580.27. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion during 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.96 EPS. As a group, equities research analysts forecast that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is presently 41.52%.

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.