Aurora Investment Counsel Has $1.92 Million Stock Position in Cummins Inc. (NYSE:CMI)

Aurora Investment Counsel reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 7.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,934 shares of the company’s stock after selling 469 shares during the period. Aurora Investment Counsel’s holdings in Cummins were worth $1,921,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. bought a new stake in Cummins during the second quarter worth $28,000. Prospera Private Wealth LLC purchased a new position in Cummins during the third quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins in the 2nd quarter worth about $28,000. Lynx Investment Advisory bought a new position in shares of Cummins during the 2nd quarter worth approximately $29,000. Finally, LRI Investments LLC purchased a new position in shares of Cummins in the 1st quarter worth approximately $31,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cummins

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

Cummins Stock Down 0.3 %

CMI stock opened at $360.95 on Thursday. The company’s 50 day moving average is $332.94 and its 200 day moving average is $303.34. The stock has a market cap of $49.52 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.77 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. Cummins Inc. has a 1-year low of $220.02 and a 1-year high of $370.21.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm earned $4.73 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.02%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Analyst Ratings Changes

CMI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Robert W. Baird raised their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cummins currently has a consensus rating of “Hold” and an average target price of $337.67.

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.