Tennessee Valley Asset Management Partners Acquires New Position in Cummins Inc. (NYSE:CMI)

Tennessee Valley Asset Management Partners acquired a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 814 shares of the company’s stock, valued at approximately $195,000.

Several other hedge funds also recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Cummins during the third quarter worth about $25,000. Silver Oak Securities Incorporated acquired a new stake in Cummins in the third quarter valued at approximately $28,000. Tyler Stone Wealth Management acquired a new stake in Cummins in the second quarter valued at approximately $30,000. Global Wealth Strategies & Associates acquired a new stake in Cummins in the third quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in Cummins in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of several analyst reports. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Truist Financial began coverage on shares of Cummins in a research note on Thursday, March 14th. They issued a “hold” rating and a $303.00 price target on the stock. Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $243.00 to $225.00 in a research note on Friday, January 19th. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley initiated coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and an average price target of $279.70.

Cummins Stock Performance

NYSE:CMI opened at $287.56 on Monday. The firm’s fifty day moving average price is $280.26 and its 200 day moving average price is $248.68. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $304.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 55.51, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings data 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 firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business earned $4.52 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 18.31 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is currently 129.73%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the sale, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $569,709.00. Following the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,289 shares of company stock valued at $13,576,838. 0.56% of the stock is owned by company insiders.

About Cummins

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.