Kades & Cheifetz LLC Sells 1,723 Shares of Cummins Inc. (NYSE:CMI)

Kades & Cheifetz LLC trimmed its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,281 shares of the company's stock after selling 1,723 shares during the period. Kades & Cheifetz LLC's holdings in Cummins were worth $795,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins in the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Cummins during the third quarter worth about $55,000. Bangor Savings Bank raised its stake in Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company's stock worth $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Cummins in the 2nd quarter valued at about $67,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the firm's stock in a transaction dated 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 sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 6,489 shares of company stock valued at $2,357,531 over the last quarter. Insiders own 0.56% of the company's stock.

Cummins Trading Up 1.7 %

Cummins stock traded up $5.92 during trading hours on Monday, hitting $360.80. The stock had a trading volume of 595,796 shares, compared to its average volume of 575,728. The business's 50 day simple moving average is $362.62 and its 200-day simple moving average is $325.60. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90. The stock has a market cap of $49.50 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.80 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

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, beating 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 business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $4.73 EPS. The firm's quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMI. Citigroup lifted their price target on shares of Cummins from $415.00 to $435.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Robert W. Baird upped 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. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Vertical Research cut shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective for the company. 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 raised their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $363.50.

About Cummins

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.