O Brien Greene & Co. Inc Sells 578 Shares of Cummins Inc. (NYSE:CMI)

O Brien Greene & Co. Inc lowered its position in shares of Cummins Inc. (NYSE:CMI) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,021 shares of the company’s stock after selling 578 shares during the period. O Brien Greene & Co. Inc’s holdings in Cummins were worth $1,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. purchased a new stake in Cummins during the 2nd quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in shares of Cummins in the 2nd quarter worth approximately $28,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins in the third quarter worth $34,000. Finally, Bangor Savings Bank boosted its position in 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 acquiring an additional 40 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent research reports. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $351.31.

Cummins Trading Up 0.3 %

Shares of CMI stock opened at $379.60 on Monday. The company has a market cap of $52.07 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.84 and a beta of 0.99. The stock has a 50 day simple moving average of $348.47 and a 200-day simple moving average of $310.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $382.86.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.73 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 48.08%.

About Cummins

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.