103,113 Shares in Cummins Inc. $CMI Purchased by CSM Advisors LLC

CSM Advisors LLC acquired a new position in Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 103,113 shares of the company’s stock, valued at approximately $33,770,000. Cummins accounts for 1.0% of CSM Advisors LLC’s holdings, making the stock its 20th largest holding. CSM Advisors LLC owned 0.07% of Cummins at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings 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 purchasing an additional 83 shares in the last quarter. Stratos Wealth Partners LTD. grew its position 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 buying an additional 306 shares during the period. Alps Advisors Inc. grew its position in shares of Cummins by 32.4% in the 1st quarter. Alps Advisors Inc. now owns 4,662 shares of the company’s stock worth $1,461,000 after buying an additional 1,140 shares during the period. Cerity Partners LLC increased its stake in shares of Cummins by 7.1% in the 1st quarter. Cerity Partners LLC now owns 124,990 shares of the company’s stock worth $39,177,000 after acquiring an additional 8,327 shares in the last quarter. Finally, Xponance Inc. lifted its position in Cummins by 1.3% during the 1st quarter. Xponance Inc. now owns 22,868 shares of the company’s stock valued at $7,168,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a report on Wednesday. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Melius raised Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research report on Wednesday, September 3rd. Wolfe Research upgraded Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Finally, Citigroup increased their target price on Cummins from $500.00 to $530.00 and gave the stock a “buy” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $428.93.

Cummins Stock Up 2.4%

Cummins stock opened at $474.10 on Friday. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $482.53. The stock has a fifty day simple moving average of $420.80 and a two-hundred day simple moving average of $369.17. 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 firm has a market cap of $65.32 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.05 and a beta of 1.07.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The company had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. During the same period last year, the firm posted $5.86 earnings per share. Cummins’s revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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 issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, November 21st. Cummins’s payout ratio is presently 41.52%.

Insider Activity at Cummins

In other news, VP Robert Enright sold 1,860 shares of the firm’s 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. This trade represents a 66.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 owned 5,227 shares of the company’s stock, valued at approximately $2,118,659.91. This trade represents a 20.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 37,949 shares of company stock worth $15,674,705 in the last three months. 0.41% of the stock is currently owned by company insiders.

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.