U.S. Capital Wealth Advisors LLC Buys 177 Shares of Cummins Inc. $CMI

U.S. Capital Wealth Advisors LLC boosted its stake in Cummins Inc. (NYSE:CMI) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,286 shares of the company’s stock after acquiring an additional 177 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Cummins were worth $2,714,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Olde Wealth Management LLC acquired a new position in shares of Cummins in the 1st quarter worth approximately $30,000. Accredited Wealth Management LLC bought a new position in Cummins during the first quarter worth $31,000. Capital A Wealth Management LLC bought a new stake in Cummins during the fourth quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new stake in Cummins during the 1st quarter worth about $37,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Cummins in the 1st quarter worth about $39,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CMI. Citigroup upped their target price on Cummins from $425.00 to $485.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial increased their price target on Cummins from $342.00 to $380.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a research note on Tuesday, August 19th. Melius raised shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price on the stock in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.57.

Cummins Stock Performance

NYSE CMI opened at $423.78 on Wednesday. The company has a fifty day simple moving average of $389.93 and a 200 day simple moving average of $340.54. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $432.50. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. The company has a market cap of $58.39 billion, a P/E ratio of 19.92, a PEG ratio of 2.05 and a beta of 1.02.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.21 by $1.22. The firm had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.45 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.26 earnings per share. Sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. This is an increase from Cummins’s previous quarterly dividend of $1.82. Cummins’s dividend payout ratio is presently 37.61%.

Insider Transactions at Cummins

In related news, CFO Mark Andrew Smith sold 1,580 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $419.00, for a total value of $662,020.00. Following the completion of the sale, the chief financial officer directly owned 31,582 shares of the company’s stock, valued at approximately $13,232,858. This represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Amy Rochelle Davis sold 5,002 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $402.88, for a total value of $2,015,205.76. Following the transaction, the vice president owned 20,738 shares in the company, valued at approximately $8,354,925.44. This trade represents a 19.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,119 shares of company stock valued at $14,159,885. Corporate insiders own 0.41% of the company’s stock.

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.