Cummins Inc. (NYSE:CMI) Shares Purchased by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. raised its stake in shares of Cummins Inc. (NYSE:CMI) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,596 shares of the company’s stock after purchasing an additional 445 shares during the period. GHP Investment Advisors Inc.’s holdings in Cummins were worth $5,829,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Cummins in the fourth quarter valued at $499,490,000. GAMMA Investing LLC boosted its holdings in shares of Cummins by 38,220.5% in the 1st quarter. GAMMA Investing LLC now owns 1,191,385 shares of the company’s stock valued at $373,428,000 after buying an additional 1,188,276 shares during the period. Raymond James Financial Inc. acquired a new stake in Cummins during the fourth quarter worth about $187,082,000. Vanguard Group Inc. raised its stake in Cummins by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,961,646 shares of the company’s stock worth $5,912,830,000 after acquiring an additional 250,650 shares during the period. Finally, Northern Trust Corp raised its stake in Cummins by 15.1% during the fourth quarter. Northern Trust Corp now owns 1,883,012 shares of the company’s stock worth $656,418,000 after acquiring an additional 246,807 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, Director John H. Stone acquired 1,000 shares of the stock in a transaction dated Friday, May 16th. The shares were bought at an average price of $332.08 per share, with a total value of $332,080.00. Following the purchase, the director now directly owns 2,441 shares of the company’s stock, valued at approximately $810,607.28. This trade represents a 69.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CMI. The Goldman Sachs Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $410.00 to $431.00 in a research note on Tuesday, May 27th. Wall Street Zen cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $400.00 to $240.00 in a report on Monday, April 7th. Morgan Stanley increased their price objective on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Citigroup increased their price objective on shares of Cummins from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus price target of $358.08.

Cummins Stock Up 2.4%

Cummins stock opened at $323.99 on Wednesday. The stock has a market cap of $44.63 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.90 and a beta of 1.04. The company has a current ratio of 1.34, a quick ratio of 0.81 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $312.43 and its two-hundred day moving average price is $333.79. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a net margin of 8.20% and a return on equity of 26.88%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.08 EPS. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.25%. Cummins’s dividend payout ratio is currently 36.22%.

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.