Cwm LLC Acquires 446 Shares of Cummins Inc. (NYSE:CMI)

Cwm LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,466 shares of the company’s stock after purchasing an additional 446 shares during the period. Cwm LLC’s holdings in Cummins were worth $2,028,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Balentine LLC lifted its stake in shares of Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock worth $898,000 after purchasing an additional 127 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Cummins by 200.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after purchasing an additional 3,866 shares during the period. Allen Mooney & Barnes Investment Advisors LLC bought a new position in shares of Cummins in the 3rd quarter worth approximately $9,048,000. Capital Advisors Inc. OK bought a new stake in Cummins during the 4th quarter worth approximately $24,915,000. Finally, SG Americas Securities LLC raised its stake in Cummins by 227.6% during the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after acquiring an additional 16,869 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.3 %

CMI stock opened at $291.40 on Friday. The firm has a fifty day moving average price of $282.84 and a 200 day moving average price of $250.18. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18. The firm has a market cap of $39.85 billion, a PE ratio of 56.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period last year, the business posted $4.52 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CMI shares. TD Cowen raised their target price on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Bank of America cut shares of Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. Truist Financial started coverage on shares of Cummins in a research note on Thursday, March 14th. They set a “hold” rating and a $303.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $279.70.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Cummins news, SVP Tony Satterthwaite sold 37,450 shares of Cummins stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is owned by corporate insiders.

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.