Foster & Motley Inc. Sells 127 Shares of Cummins Inc. (NYSE:CMI)

Foster & Motley Inc. reduced its stake in Cummins Inc. (NYSE:CMI) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,455 shares of the company’s stock after selling 127 shares during the quarter. Foster & Motley Inc.’s holdings in Cummins were worth $9,214,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMI. Chicago Capital LLC boosted its stake in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after purchasing an additional 30 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position in Cummins by 0.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after acquiring an additional 35 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares during the period. Fidelis Capital Partners LLC raised its position in shares of Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after acquiring an additional 38 shares in the last quarter. Finally, Bangor Savings Bank boosted its position in shares of Cummins by 39.2% during the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company’s stock valued at $39,000 after purchasing an additional 40 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of CMI stock opened at $354.45 on Wednesday. Cummins Inc. has a one year low of $214.57 and a one year high of $356.68. The company has a market cap of $48.58 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.88 and a beta of 0.97. The firm has a 50-day moving average of $320.21 and a 200-day moving average of $297.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.73 EPS. Equities research analysts forecast that Cummins Inc. will post 19.96 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is presently 52.49%.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMI. Citigroup boosted their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $316.73.

Cummins Company 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.