Eagle Bluffs Wealth Management LLC Boosts Position in Cummins Inc. (NYSE:CMI)

Eagle Bluffs Wealth Management LLC lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 6,160 shares of the company’s stock after buying an additional 84 shares during the quarter. Cummins comprises 1.0% of Eagle Bluffs Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Eagle Bluffs Wealth Management LLC’s holdings in Cummins were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in Cummins in the 3rd quarter valued at about $25,000. Silver Oak Securities Incorporated purchased a new stake in Cummins during the third quarter worth about $28,000. Tyler Stone Wealth Management acquired a new position in shares of Cummins during the second quarter worth about $30,000. Global Wealth Strategies & Associates acquired a new position in shares of Cummins during the third quarter worth about $29,000. Finally, Quarry LP acquired a new position in shares of Cummins during the first quarter worth about $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 2,100 shares of Cummins stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tony Satterthwaite sold 37,450 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The disclosure for this sale can be found here. Insiders have sold a total of 51,289 shares of company stock valued at $13,576,838 over the last quarter. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

NYSE:CMI traded down $1.66 during trading hours on Tuesday, hitting $294.12. The company’s stock had a trading volume of 421,023 shares, compared to its average volume of 2,870,663. 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 company has a market capitalization of $40.22 billion, a PE ratio of 56.71, a PEG ratio of 2.03 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The business’s 50-day moving average is $276.99 and its two-hundred day moving average is $246.85.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. As a group, research analysts anticipate that Cummins Inc. will post 18.29 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is currently 129.73%.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. TD Cowen upped their price target on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group upped their price target on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $243.00 to $225.00 in a report on Friday, January 19th. JPMorgan Chase & Co. upped their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Finally, TheStreet cut Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus target price of $279.70.

Cummins 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.