Mirador Capital Partners LP Sells 46 Shares of Cummins Inc. (NYSE:CMI)

Mirador Capital Partners LP decreased its position in Cummins Inc. (NYSE:CMI) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,352 shares of the company’s stock after selling 46 shares during the quarter. Mirador Capital Partners LP’s holdings in Cummins were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bison Wealth LLC boosted its stake in shares of Cummins by 3.6% in the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after purchasing an additional 42 shares in the last quarter. KB Financial Partners LLC grew its stake in shares of Cummins by 1.3% during the third quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after buying an additional 45 shares during the last quarter. Edmp Inc. increased its holdings in shares of Cummins by 0.8% in the fourth quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after buying an additional 46 shares during the period. Ledge Wealth Management Inc. lifted its stake in shares of Cummins by 0.5% in the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after acquiring an additional 48 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its holdings in Cummins by 0.9% during the 4th quarter. D.B. Root & Company LLC now owns 5,331 shares of the company’s stock valued at $1,277,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CMI shares. StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Raymond James began coverage on shares of Cummins in a report on Friday. They set a “market perform” rating for the company. Citigroup started coverage on shares of Cummins in a research report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price objective on the stock. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their target price for the stock from $254.00 to $321.00 in a report on Friday, March 15th. Finally, Robert W. Baird reduced their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $287.55.

Insider Buying and Selling at Cummins

In related news, VP Jeffrey T. Wiltrout purchased 282 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares in the company, valued at approximately $359,808.82. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Cummins news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey T. Wiltrout purchased 282 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Cummins Trading Down 1.7 %

CMI opened at $272.29 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $304.24. The stock has a market cap of $37.24 billion, a PE ratio of 19.93, a PEG ratio of 1.73 and a beta of 0.99. The business has a 50 day moving average of $282.30 and a 200-day moving average of $269.13.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Equities research analysts predict that Cummins Inc. will post 18.84 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

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.