Cummins Inc. (NYSE:CMI) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC trimmed its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,370 shares of the company's stock after selling 2,019 shares during the period. Janus Henderson Group PLC owned 0.06% of Cummins worth $25,684,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cultivar Capital Inc. bought a new position in Cummins during the second quarter valued at $28,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the 3rd quarter valued at about $32,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Cummins in the second quarter worth about $28,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the third quarter worth approximately $34,000. Finally, Bangor Savings Bank raised its position in Cummins by 39.2% during the second quarter. Bangor Savings Bank now owns 142 shares of the company's stock valued at $39,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins 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 transaction, the vice president now owns 20,803 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird boosted 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. Citigroup raised their target price on shares of Cummins from $375.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Jefferies Financial Group lifted their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Cummins from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $345.15.

Cummins Stock Up 0.3 %

Shares of CMI stock traded up $1.03 on Friday, hitting $379.60. The stock had a trading volume of 752,410 shares, compared to its average volume of 519,641. Cummins Inc. has a one year low of $226.52 and a one year high of $382.86. The business has a 50 day moving average price of $347.40 and a 200 day moving average price of $309.68. The company has a market cap of $52.07 billion, a PE ratio of 25.07, a P/E/G ratio of 1.84 and a beta of 0.99. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business posted $4.73 EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.92%. Cummins's dividend payout ratio (DPR) 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.