Csenge Advisory Group Decreases Position in Cummins Inc. (CMI)

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Csenge Advisory Group reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,433 shares of the company’s stock after selling 1,308 shares during the quarter. Csenge Advisory Group’s holdings in Cummins were worth $541,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Cummins during the fourth quarter worth approximately $28,000. Guidant Wealth Advisors acquired a new stake in shares of Cummins during the first quarter worth approximately $29,000. Prime Capital Investment Advisors LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $32,000. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Cummins in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.36% of the company’s stock.

In other news, insider Srikanth Padmanabhan sold 1,687 shares of Cummins stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $160.00, for a total value of $269,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.95% of the company’s stock.

A number of research firms have issued reports on CMI. Stifel Nicolaus lifted their target price on shares of Cummins from $176.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Loop Capital cut shares of Cummins from a “buy” rating to a “hold” rating and set a $166.29 target price for the company. in a research note on Wednesday, May 1st. UBS Group lifted their target price on shares of Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research note on Wednesday, May 1st. Buckingham Research lifted their target price on shares of Cummins from $160.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Robert W. Baird upgraded shares of Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 target price for the company in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Cummins currently has an average rating of “Hold” and an average target price of $165.61.

NYSE CMI opened at $159.24 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $169.45.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $4.20 EPS for the quarter, beating the Zacks’ consensus estimate of $3.51 by $0.69. Cummins had a net margin of 10.24% and a return on equity of 30.72%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the firm posted $3.30 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 16.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Friday, May 24th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, May 23rd. Cummins’s dividend payout ratio is 34.47%.

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Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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