Cummins Inc. $CMI Shares Acquired by Mutual Advisors LLC

Mutual Advisors LLC lifted its position in shares of Cummins Inc. (NYSE:CMI) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,669 shares of the company’s stock after purchasing an additional 63 shares during the period. Mutual Advisors LLC’s holdings in Cummins were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMI. Brighton Jones LLC grew its holdings in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after buying an additional 83 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cummins by 22.3% during the first quarter. GAMMA Investing LLC now owns 3,801 shares of the company’s stock worth $1,191,000 after buying an additional 692 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cummins by 35.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,658 shares of the company’s stock worth $9,923,000 after buying an additional 8,261 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of Cummins by 2.4% during the first quarter. Johnson Investment Counsel Inc. now owns 1,901 shares of the company’s stock worth $596,000 after buying an additional 45 shares during the last quarter. Finally, Boston Trust Walden Corp grew its holdings in shares of Cummins by 3.9% during the first quarter. Boston Trust Walden Corp now owns 5,465 shares of the company’s stock worth $1,713,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, Director Karen H. Quintos sold 1,307 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total transaction of $529,766.31. Following the sale, the director owned 5,227 shares of the company’s stock, valued at $2,118,659.91. The trade was a 20.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the transaction, the vice president owned 955 shares of the company’s stock, valued at $384,158.30. This represents a 66.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,119 shares of company stock worth $17,674,285. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a report on Tuesday, October 14th. Melius Research raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a report on Wednesday, September 3rd. Wells Fargo & Company raised Cummins to an “overweight” rating in a report on Monday, August 11th. JPMorgan Chase & Co. lifted their price objective on Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Barclays lifted their price objective on Cummins from $381.00 to $387.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $407.43.

Cummins Price Performance

Shares of NYSE:CMI opened at $411.84 on Friday. The business’s 50 day simple moving average is $411.10 and its 200-day simple moving average is $352.98. The firm has a market capitalization of $56.75 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $440.51.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.21 by $1.22. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.26 EPS. As a group, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.9%. Cummins’s payout ratio is 37.61%.

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.