Clarius Group LLC Has $297,000 Position in Cummins Inc. $CMI

Clarius Group LLC cut its stake in Cummins Inc. (NYSE:CMI) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 908 shares of the company’s stock after selling 45 shares during the quarter. Clarius Group LLC’s holdings in Cummins were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Olde Wealth Management LLC acquired a new position in shares of Cummins in the 1st quarter valued at $30,000. Accredited Wealth Management LLC acquired a new position in Cummins in the first quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Cummins in the first quarter worth about $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Cummins during the first quarter worth about $39,000. Finally, Costello Asset Management INC bought a new position in shares of Cummins during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $439.66 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. The business has a 50-day moving average of $402.11 and a 200-day moving average of $346.92. The stock has a market capitalization of $60.58 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.09 and a beta of 1.04. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $440.51.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.21 by $1.22. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.Cummins’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. As a group, sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were paid a $2.00 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.82. This represents a $8.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 22nd. Cummins’s dividend payout ratio (DPR) is 37.61%.

Insider Buying and Selling at Cummins

In other news, VP Luther E. Peters sold 4,850 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $389.19, for a total value of $1,887,571.50. Following the sale, the vice president directly owned 7,693 shares of the company’s stock, valued at approximately $2,994,038.67. This represents a 38.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Andrew Smith sold 6,500 shares of Cummins stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $405.00, for a total value of $2,632,500.00. Following the transaction, the chief financial officer owned 31,582 shares of the company’s stock, valued at $12,790,710. The trade was a 17.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,119 shares of company stock valued at $14,159,885 in the last 90 days. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a research note on Wednesday, September 3rd. Truist Financial increased their price objective on shares of Cummins from $342.00 to $380.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. Barclays raised their price objective on shares of Cummins from $381.00 to $387.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Wolfe Research raised shares of Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a report on Saturday, September 27th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $393.57.

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.