Axxcess Wealth Management LLC Has $804,000 Stock Position in Cummins Inc. (NYSE:CMI)

Axxcess Wealth Management LLC raised its holdings in Cummins Inc. (NYSE:CMI) by 152.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,484 shares of the company’s stock after buying an additional 1,499 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Cummins were worth $804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Chicago Capital LLC grew its holdings in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the last quarter. Equitable Trust Co. grew its holdings in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in Cummins by 0.7% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after buying an additional 35 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in Cummins by 3.4% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock valued at $340,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research reports. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Citigroup raised their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $324.83.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,193 shares of company stock worth $9,685,552. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Down 0.9 %

Shares of Cummins stock opened at $355.07 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12 month low of $216.91 and a 12 month high of $370.21. The business has a fifty day simple moving average of $323.90 and a 200 day simple moving average of $299.69. The stock has a market cap of $48.71 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the firm earned $4.73 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 20.32 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. 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.