KPP Advisory Services LLC Sells 135 Shares of Cummins Inc. (NYSE:CMI)

KPP Advisory Services LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 8.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,384 shares of the company’s stock after selling 135 shares during the period. KPP Advisory Services LLC’s holdings in Cummins were worth $448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins in the second quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new position in Cummins during the 2nd quarter valued at $28,000. Lynx Investment Advisory purchased a new position in Cummins during the 2nd quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Cummins in the 1st quarter worth $31,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the third quarter valued at about $34,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Citigroup boosted their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $294.00 to $408.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and an average price target of $334.33.

Cummins Stock Performance

Shares of CMI stock opened at $361.85 on Friday. Cummins Inc. has a 12 month low of $220.02 and a 12 month high of $370.21. The stock has a market capitalization of $49.64 billion, a P/E ratio of 23.90, a PEG ratio of 1.79 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $328.91 and its 200 day moving average is $301.64.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business posted $4.73 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Cummins Inc. will post 20.61 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.01%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,576 shares of company stock valued at $9,033,945 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Cummins Company Profile

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.