QV Investors Inc. Sells 1,040 Shares of Cummins Inc. $CMI

QV Investors Inc. cut its holdings in Cummins Inc. (NYSE:CMI) by 7.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,265 shares of the company’s stock after selling 1,040 shares during the quarter. QV Investors Inc.’s holdings in Cummins were worth $6,771,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMI. Accel Wealth Management bought a new stake in Cummins during the 4th quarter worth about $210,000. Savvy Advisors Inc. boosted its stake in shares of Cummins by 41.8% during the 4th quarter. Savvy Advisors Inc. now owns 2,217 shares of the company’s stock worth $1,132,000 after buying an additional 654 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Cummins by 49.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,864 shares of the company’s stock valued at $2,993,000 after acquiring an additional 1,930 shares in the last quarter. Stratos Investment Management LLC bought a new position in shares of Cummins in the 4th quarter valued at about $276,000. Finally, Perpetual Ltd increased its position in shares of Cummins by 7.7% in the fourth quarter. Perpetual Ltd now owns 2,132 shares of the company’s stock valued at $1,088,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMI. Robert W. Baird set a $580.00 price target on Cummins in a research report on Friday, February 6th. UBS Group set a $565.00 price target on Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. increased their price objective on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Citigroup raised their target price on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Cummins Trading Up 0.0%

Shares of NYSE:CMI opened at $549.83 on Friday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The company has a market capitalization of $75.96 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The company has a 50-day simple moving average of $567.38 and a 200 day simple moving average of $510.41.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion for 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 business’s 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. Sell-side analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend 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 Buying and Selling at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the transaction, the vice president directly owned 15,130 shares of the company’s stock, valued at $8,849,990.90. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,195 shares of company stock worth $18,397,489 in the last three months. 0.41% of the stock is owned by insiders.

Cummins Company 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.