Valeo Financial Advisors LLC Sells 1,497 Shares of Cummins Inc. (NYSE:CMI)

Valeo Financial Advisors LLC decreased its stake in Cummins Inc. (NYSE:CMI - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,554 shares of the company's stock after selling 1,497 shares during the period. Valeo Financial Advisors LLC's holdings in Cummins were worth $4,028,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC boosted its stake in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company's stock worth $725,000 after purchasing an additional 485 shares during the last quarter. Mariner Investment Group LLC acquired a new position in Cummins during the fourth quarter valued at approximately $1,046,000. Alpha DNA Investment Management LLC purchased a new stake in Cummins during the 3rd quarter worth $748,000. Franklin Resources Inc. lifted its stake in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock worth $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Cummins by 21.2% in the third quarter. Bank of Montreal Can now owns 391,845 shares of the company's stock worth $127,898,000 after buying an additional 68,627 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Up 1.9 %

CMI traded up $7.09 during trading on Wednesday, reaching $386.22. The company had a trading volume of 943,900 shares, compared to its average volume of 833,438. The business's fifty day moving average price is $360.92 and its 200 day moving average price is $340.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The company has a market cap of $53.10 billion, a P/E ratio of 13.71, a PEG ratio of 2.13 and a beta of 1.00.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter in the previous year, the business posted $4.14 EPS. The business's quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a dividend yield of 1.88%. Cummins's dividend payout ratio is presently 25.84%.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 2,163 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of several analyst reports. Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Evercore ISI raised their target price on Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded Cummins from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $386.67.

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.