Cummins Inc. (NYSE:CMI) Shares Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC decreased its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,281 shares of the company's stock after selling 5,561 shares during the period. Cummins accounts for approximately 1.3% of Adams Asset Advisors LLC's portfolio, making the stock its 21st biggest holding. Adams Asset Advisors LLC's holdings in Cummins were worth $10,207,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after buying an additional 126,703 shares during the period. Fisher Asset Management LLC increased its position in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after buying an additional 165,398 shares during the period. Pathway Financial Advisers LLC increased its position in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after buying an additional 2,523,854 shares during the period. Dimensional Fund Advisors LP increased its position in Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock worth $469,869,000 after buying an additional 26,977 shares during the period. Finally, Legal & General Group Plc increased its position in Cummins by 1.9% during the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock worth $468,503,000 after buying an additional 31,190 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Evercore ISI upgraded Cummins from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and lifted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Citigroup lifted their target price on Cummins from $415.00 to $435.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Vertical Research downgraded 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. Finally, Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $363.50.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company's stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by insiders.

Cummins Price Performance

CMI stock traded up $5.92 during midday trading on Monday, hitting $360.80. 595,796 shares of the stock were exchanged, compared to its average volume of 575,728. The stock's 50-day moving average price is $361.92 and its 200-day moving average price is $325.03. The stock has a market cap of $49.50 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.80 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.73 earnings per share. Research analysts predict that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.02%. Cummins's dividend payout ratio is presently 48.08%.

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.