Stevens Capital Management LP Has $451,000 Stock Position in Cummins Inc. (NYSE:CMI)

Stevens Capital Management LP trimmed its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 80.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,394 shares of the company's stock after selling 5,884 shares during the period. Stevens Capital Management LP's holdings in Cummins were worth $451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cultivar Capital Inc. bought a new position in Cummins during the second quarter worth $28,000. Prospera Private Wealth LLC bought a new position in shares of Cummins during the 3rd quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins during the second quarter valued at about $28,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins in the third quarter valued at about $34,000. Finally, Bangor Savings Bank grew its position in Cummins by 39.2% during the second quarter. Bangor Savings Bank now owns 142 shares of the company's stock worth $39,000 after buying an additional 40 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

CMI traded up $0.78 during trading on Friday, hitting $379.35. The company's stock had a trading volume of 752,296 shares, compared to its average volume of 1,424,764. The firm's 50 day moving average price is $347.40 and its two-hundred day moving average price is $309.68. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $52.04 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $382.86.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company earned $4.73 EPS. The firm's quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, November 22nd. Cummins's dividend payout ratio (DPR) is presently 48.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMI shares. Jefferies Financial Group upped their price target on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a report on Friday. Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the company an "underweight" rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $345.15.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

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.