Aptus Capital Advisors LLC Has $6.82 Million Holdings in Cummins Inc. $CMI

Aptus Capital Advisors LLC increased its position in Cummins Inc. (NYSE:CMI) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,350 shares of the company’s stock after acquiring an additional 867 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Cummins were worth $6,815,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CMI. Thompson Investment Management Inc. bought a new position in Cummins in the 4th quarter worth $26,000. Activest Wealth Management raised its holdings in Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC bought a new position in Cummins in the 4th quarter worth $27,000. Ares Financial Consulting LLC bought a new position in Cummins in the 4th quarter worth $29,000. Finally, Osterweis Capital Management Inc. bought a new position in Cummins in the 2nd quarter worth $31,000. Institutional investors own 83.46% of the company’s stock.

Insider Activity

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the sale, the executive vice president directly owned 11,679 shares in the company, valued at $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $679.66 on Tuesday. The stock has a market cap of $93.79 billion, a P/E ratio of 35.27, a PEG ratio of 1.61 and a beta of 1.24. The company’s 50-day simple moving average is $651.02 and its 200 day simple moving average is $585.26. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.96 earnings per share. As a group, research analysts forecast that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is currently 41.52%.

Analysts Set New Price Targets

CMI has been the topic of several research reports. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Raymond James Financial boosted their price objective on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $565.00 to $850.00 in a report on Monday, June 8th. Citigroup boosted their price objective on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Truist Financial set a $815.00 price objective on shares of Cummins in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.14.

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.