Cummins Inc. (NYSE:CMI) Shares Bought by Blair William & Co. IL

Blair William & Co. IL raised its stake in Cummins Inc. (NYSE:CMI) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,663 shares of the company’s stock after acquiring an additional 480 shares during the quarter. Blair William & Co. IL’s holdings in Cummins were worth $13,686,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in Cummins in the fourth quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new position in Cummins in the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Cummins in the first quarter valued at approximately $37,000. Richardson Financial Services Inc. acquired a new position in Cummins in the first quarter valued at approximately $39,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its holdings in Cummins by 316.7% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 125 shares of the company’s stock valued at $44,000 after acquiring an additional 95 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMI shares. Morgan Stanley upped their target price on Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Robert W. Baird upped their target price on Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Citigroup reaffirmed a “buy” rating and set a $360.00 target price (up from $350.00) on shares of Cummins in a research note on Tuesday, June 24th. Truist Financial reduced their target price on Cummins from $420.00 to $338.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average target price of $361.92.

Cummins Stock Up 1.6%

Shares of NYSE:CMI opened at $361.48 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $335.18 and a two-hundred day moving average of $330.79. The stock has a market cap of $49.80 billion, a P/E ratio of 17.98, a PEG ratio of 1.98 and a beta of 1.02. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $387.90.

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

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 22nd. This is an increase from Cummins’s previous quarterly dividend of $1.82. Cummins’s dividend payout ratio (DPR) is currently 36.22%.

Insider Transactions at Cummins

In related news, Director John H. Stone bought 1,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $332.08 per share, for a total transaction of $332,080.00. Following the acquisition, the director directly owned 2,441 shares in the company, valued at $810,607.28. This represents a 69.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by 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.