Militia Capital Partners LP Trims Holdings in Cummins Inc. $CMI

Militia Capital Partners LP reduced its position in shares of Cummins Inc. (NYSE:CMI) by 75.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,801 shares of the company’s stock after selling 5,400 shares during the period. Militia Capital Partners LP’s holdings in Cummins were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CMI. Brighton Jones LLC lifted its stake in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after buying an additional 83 shares during the period. Intech Investment Management LLC grew its stake in Cummins by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,146 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Cummins by 7.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,785 shares of the company’s stock valued at $11,065,000 after acquiring an additional 2,345 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cummins by 670.1% during the 2nd quarter. SG Americas Securities LLC now owns 13,955 shares of the company’s stock worth $4,570,000 after purchasing an additional 12,143 shares during the period. Finally, Creative Planning boosted its holdings in shares of Cummins by 0.5% during the second quarter. Creative Planning now owns 67,816 shares of the company’s stock worth $22,210,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.7%

Shares of CMI opened at $545.02 on Tuesday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98. The firm has a market capitalization of $75.30 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.12. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $574.35 and its 200 day simple moving average is $497.59.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. Cummins’s payout ratio is presently 38.99%.

Insider Activity

In other Cummins news, Director William I. Miller sold 18,107 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Earl Newsome sold 1,300 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares of the company’s stock, valued at $1,978,057.63. The trade was a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,195 shares of company stock worth $18,397,489. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CMI shares. UBS Group set a $565.00 price objective on Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Citigroup raised their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.93.

About Cummins

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.