Cummins Inc. $CMI Holdings Boosted by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC raised its stake in Cummins Inc. (NYSE:CMI) by 15.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,331 shares of the company’s stock after acquiring an additional 307 shares during the period. Crestwood Advisors Group LLC’s holdings in Cummins were worth $763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC increased its position in Cummins by 4.1% in the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after buying an additional 83 shares during the period. Stratos Investment Management LLC bought a new position in shares of Cummins during the first quarter worth about $201,000. Stratos Wealth Partners LTD. increased its holdings in shares of Cummins by 16.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 2,136 shares of the company’s stock worth $670,000 after acquiring an additional 306 shares during the period. Rehmann Capital Advisory Group lifted its position in Cummins by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 3,198 shares of the company’s stock valued at $1,003,000 after purchasing an additional 62 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in Cummins by 19.1% during the 1st quarter. Bridges Investment Management Inc. now owns 810 shares of the company’s stock valued at $254,000 after purchasing an additional 130 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total value of $748,203.60. Following the transaction, the vice president directly owned 955 shares in the company, valued at $384,158.30. The trade was a 66.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen H. Quintos sold 1,307 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $405.33, for a total value of $529,766.31. Following the sale, the director directly owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. This represents a 20.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,949 shares of company stock valued at $15,674,705. 0.41% of the stock is owned by insiders.

Cummins Stock Performance

NYSE:CMI opened at $462.18 on Friday. The company has a 50-day moving average of $419.28 and a 200-day moving average of $367.16. The firm has a market cap of $63.68 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $482.53.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The business had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.86 EPS. Analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.7%. Cummins’s dividend payout ratio (DPR) is currently 37.61%.

Analysts Set New Price Targets

Several brokerages have commented on CMI. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a research note on Monday, August 11th. Citigroup lifted their price objective on shares of Cummins from $425.00 to $485.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Evercore ISI restated an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. Finally, Wolfe Research upgraded shares of Cummins from a “hold” rating to an “outperform” rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $415.15.

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.