KPP Advisory Services LLC Sells 135 Shares of Cummins Inc. (NYSE:CMI)

KPP Advisory Services LLC cut its position in Cummins Inc. (NYSE:CMI) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,384 shares of the company’s stock after selling 135 shares during the quarter. KPP Advisory Services LLC’s holdings in Cummins were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its holdings in Cummins by 45.8% during the first quarter. Kingsview Wealth Management LLC now owns 3,462 shares of the company’s stock worth $1,020,000 after purchasing an additional 1,087 shares during the period. First Foundation Advisors acquired a new stake in Cummins during the 1st quarter valued at $150,000. Westfield Capital Management Co. LP bought a new position in shares of Cummins in the first quarter valued at about $5,244,000. TIAA Trust National Association lifted its stake in shares of Cummins by 26.7% during the 1st quarter. TIAA Trust National Association now owns 3,011 shares of the company’s stock worth $887,000 after buying an additional 634 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Cummins during the 1st quarter worth about $949,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. The Goldman Sachs Group increased their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Barclays raised their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $334.33.

Cummins Stock Down 0.5 %

Shares of CMI opened at $361.85 on Friday. The stock’s 50-day moving average price is $328.91 and its two-hundred day moving average price is $301.64. Cummins Inc. has a 12 month low of $220.02 and a 12 month high of $370.21. The company has a market capitalization of $49.64 billion, a PE ratio of 23.90, a PEG ratio of 1.79 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.73 earnings per share. On average, analysts anticipate that Cummins Inc. will post 20.61 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. Cummins’s payout ratio is currently 48.08%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. The trade was a 23.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,576 shares of company stock valued at $9,033,945. Corporate insiders own 0.56% of the company’s stock.

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.