6,560 Shares of Cummins Inc. $CMI Bought by Hengehold Capital Management LLC

Hengehold Capital Management LLC acquired a new stake in Cummins Inc. (NYSE:CMI) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,560 shares of the company’s stock, valued at approximately $3,389,000.

Other large investors have also recently modified their holdings of the company. Valmark Advisers Inc. raised its holdings in Cummins by 1.9% during the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after acquiring an additional 16 shares during the period. Guardian Partners Inc. raised its stake in shares of Cummins by 1.0% during the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock valued at $852,000 after purchasing an additional 16 shares during the period. Uhlmann Price Securities LLC raised its stake in shares of Cummins by 2.4% during the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after purchasing an additional 17 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in Cummins by 2.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock worth $681,000 after purchasing an additional 19 shares in the last quarter. Finally, Mengis Capital Management Inc. grew its holdings in Cummins by 0.3% during the 4th quarter. Mengis Capital Management Inc. now owns 6,463 shares of the company’s stock valued at $3,299,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group cut their price objective on shares of Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Morgan Stanley boosted their price objective on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Evercore decreased their target price on shares of Cummins from $845.00 to $782.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $700.00 target price on shares of Cummins in a research note on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $708.18.

Insider Activity at Cummins

In other Cummins news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the transaction, the vice president directly owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Cummins Price Performance

NYSE:CMI traded down $2.01 during midday trading on Friday, hitting $530.72. The company had a trading volume of 1,255,487 shares, compared to its average volume of 1,127,504. The company has a market capitalization of $73.06 billion, a PE ratio of 27.12, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 52-week low of $405.82 and a 52-week high of $737.76. The stock’s fifty day moving average price is $555.86 and its 200-day moving average price is $619.86.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.43 earnings per share. As a group, research analysts expect that Cummins Inc. will post 29.98 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be paid a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 annualized dividend and a dividend yield of 1.7%. Cummins’s dividend payout ratio (DPR) is 44.97%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.