Benjamin Edwards Inc. Has $17.55 Million Stock Position in Cummins Inc. $CMI

Benjamin Edwards Inc. decreased its stake in shares of Cummins Inc. (NYSE:CMI) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 34,366 shares of the company’s stock after selling 1,836 shares during the period. Benjamin Edwards Inc.’s holdings in Cummins were worth $17,551,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CMI. Brighton Jones LLC increased its position in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Cummins by 2.8% during 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 during the last quarter. ICW Investment Advisors LLC acquired a new position in shares of Cummins during the 2nd quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Cummins during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CMI. Truist Financial boosted their target price on Cummins from $703.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Morgan Stanley reissued an “overweight” rating and set a $675.00 target price on shares of Cummins in a report on Friday, February 6th. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus price target of $600.27.

Cummins Stock Performance

CMI opened at $657.42 on Friday. The business has a fifty day simple moving average of $581.03 and a 200 day simple moving average of $536.95. The company has a market capitalization of $90.83 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.08 and a beta of 1.27. Cummins Inc. has a 1 year low of $290.73 and a 1 year high of $674.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 EPS. Research analysts expect that Cummins Inc. will post 26.05 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a $2.00 dividend. The ex-dividend date was Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s payout ratio is 38.99%.

Insiders Place Their Bets

In related news, VP Earl Newsome sold 1,300 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares in the company, valued at $1,978,057.63. The trade was a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Amy Rochelle Davis sold 4,054 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,195 shares of company stock worth $18,397,489 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Cummins Company 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.