LVM Capital Management Ltd. MI Invests $528,000 in Cummins Inc. $CMI

LVM Capital Management Ltd. MI acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,250 shares of the company’s stock, valued at approximately $528,000.

A number of other large investors have also bought and sold shares of the business. Motley Fool Asset Management LLC boosted its holdings in shares of Cummins by 9.7% in the second quarter. Motley Fool Asset Management LLC now owns 7,018 shares of the company’s stock valued at $2,298,000 after buying an additional 623 shares during the period. Applied Finance Capital Management LLC lifted its position in Cummins by 14.4% in the 2nd quarter. Applied Finance Capital Management LLC now owns 60,797 shares of the company’s stock valued at $19,910,000 after acquiring an additional 7,656 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cummins by 6.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock worth $91,054,000 after purchasing an additional 17,566 shares during the period. Vanguard Group Inc. increased its holdings in Cummins by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock worth $5,773,219,000 after purchasing an additional 344,680 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Cummins by 101.9% in the 1st quarter. Jump Financial LLC now owns 5,843 shares of the company’s stock valued at $1,831,000 after purchasing an additional 2,949 shares during the period. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMI. Citigroup boosted their price target on Cummins from $530.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $486.60.

Insider Buying and Selling

In other news, CEO Jennifer Rumsey sold 4,570 shares of Cummins stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the transaction, the chief executive officer directly owned 42,880 shares in the company, valued at approximately $20,320,403.20. The trade was a 9.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 27,330 shares of company stock worth $12,649,764. Company insiders own 0.41% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $507.14 on Friday. The stock has a market capitalization of $70.01 billion, a PE ratio of 26.32, a P/E/G ratio of 1.97 and a beta of 1.11. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $526.50. The firm has a fifty day simple moving average of $467.22 and a 200 day simple moving average of $406.30. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The firm had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. During the same period in the prior year, the firm posted $5.86 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, November 21st. Cummins’s dividend payout ratio (DPR) is 41.52%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.