Juno Financial Group LLC Makes New $883,000 Investment in Cummins Inc. $CMI

Juno Financial Group LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,731 shares of the company’s stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after acquiring an additional 83 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Cummins by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after acquiring an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Cummins by 2.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after acquiring an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new position in shares of Cummins in the 2nd quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Cummins in the 2nd quarter worth approximately $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In other Cummins news, Director William I. Miller sold 18,107 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the completion of the transaction, the director owned 34,243 shares in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer Mary Bush sold 4,270 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This trade represents a 22.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Cummins Trading Up 0.1%

Cummins stock opened at $639.49 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $573.84 and a two-hundred day moving average price of $527.35. The firm has a market capitalization of $88.36 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.02 and a beta of 1.14. Cummins Inc. has a 52-week low of $282.77 and a 52-week high of $650.37.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. Sell-side analysts expect that Cummins Inc. will post 26.03 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, February 20th. Cummins’s payout ratio is 38.99%.

Wall Street Analyst Weigh In

CMI has been the subject of several research reports. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a research report on Friday, February 6th. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Truist Financial lifted their target price on Cummins from $703.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and an average target price of $600.27.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.