Caldwell Sutter Capital Inc. Sells 101 Shares of Cummins Inc. (NYSE:CMI)

Caldwell Sutter Capital Inc. decreased its position in Cummins Inc. (NYSE:CMI) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 518 shares of the company’s stock after selling 101 shares during the quarter. Caldwell Sutter Capital Inc.’s holdings in Cummins were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in Cummins by 200.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock valued at $1,387,000 after purchasing an additional 3,866 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in Cummins in the third quarter valued at approximately $9,048,000. Beacon Financial Group lifted its position in Cummins by 7.0% in the fourth quarter. Beacon Financial Group now owns 1,933 shares of the company’s stock valued at $463,000 after purchasing an additional 126 shares during the last quarter. KBC Group NV lifted its position in Cummins by 283.2% in the fourth quarter. KBC Group NV now owns 77,585 shares of the company’s stock valued at $18,587,000 after purchasing an additional 57,341 shares during the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in Cummins in the fourth quarter valued at approximately $24,915,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other news, VP Jeffrey T. Wiltrout acquired 282 shares of Cummins stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the purchase, the vice president now directly owns 1,262 shares in the company, valued at approximately $359,808.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Jeffrey T. Wiltrout acquired 282 shares of Cummins stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the purchase, the vice president now directly owns 1,262 shares in the company, valued at approximately $359,808.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Marvin Boakye acquired 1,745 shares of Cummins stock in a transaction on Monday, May 20th. The stock was purchased at an average cost of $286.04 per share, for a total transaction of $499,139.80. Following the purchase, the vice president now owns 1,745 shares in the company, valued at $499,139.80. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of NYSE CMI traded up $4.53 during trading on Wednesday, hitting $272.08. The company had a trading volume of 504,655 shares, compared to its average volume of 2,060,036. The stock has a 50 day simple moving average of $281.44 and a 200 day simple moving average of $269.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins Inc. has a 12 month low of $212.80 and a 12 month high of $304.24. The firm has a market capitalization of $37.22 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.36 billion. As a group, analysts anticipate that Cummins Inc. will post 18.86 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio is currently 49.19%.

Analyst Upgrades and Downgrades

CMI has been the topic of several research analyst reports. Raymond James initiated coverage on Cummins in a research note on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group boosted their target price on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Robert W. Baird reduced their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Citigroup initiated coverage on Cummins in a research note on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $287.18.

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.