Vaughan Nelson Investment Management L.P. Sells 5,715 Shares of Cummins Inc. $CMI

Vaughan Nelson Investment Management L.P. cut its holdings in Cummins Inc. (NYSE:CMI) by 66.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,915 shares of the company’s stock after selling 5,715 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Cummins were worth $1,488,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CMI. Thompson Investment Management Inc. bought a new stake in Cummins during the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Cummins during the 3rd quarter valued at about $28,000. Osterweis Capital Management Inc. bought a new position in shares of Cummins during the 2nd quarter valued at approximately $31,000. Holos Integrated Wealth LLC purchased a new stake in Cummins in the 4th quarter worth approximately $32,000. Finally, Guerra Advisors Inc bought a new stake in Cummins during the 3rd quarter worth approximately $36,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

CMI stock opened at $537.21 on Wednesday. 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’s fifty day moving average price is $569.08 and its 200-day moving average price is $508.23. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98. The company has a market capitalization of $74.22 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12.

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

Cummins Dividend Announcement

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 $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s payout ratio is 38.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMI shares. Wells Fargo & Company upped their price target on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Barclays lifted their target price on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Raymond James Financial upped their target price on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Citigroup raised their price target on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, Sanford C. Bernstein set a $600.00 price objective on Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Insider Buying and Selling

In other news, Director William I. Miller sold 18,107 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director directly owned 34,243 shares in the company, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the sale, the vice president owned 7,214 shares in the company, valued at $4,329,337.82. This represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 31,195 shares of company stock valued at $18,397,489 in the last ninety days. Company insiders own 0.41% of the company’s stock.

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.