Resources Management Corp CT ADV Has $1.61 Million Stock Position in Cummins Inc. $CMI

Resources Management Corp CT ADV boosted its position in Cummins Inc. (NYSE:CMI) by 42.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,146 shares of the company’s stock after purchasing an additional 941 shares during the period. Resources Management Corp CT ADV’s holdings in Cummins were worth $1,606,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sargent Investment Group LLC acquired a new stake in Cummins during the fourth quarter worth approximately $1,350,000. MML Investors Services LLC lifted its position in Cummins by 27.4% during the fourth quarter. MML Investors Services LLC now owns 42,616 shares of the company’s stock worth $21,753,000 after acquiring an additional 9,154 shares during the last quarter. Mariner LLC lifted its position in Cummins by 8.7% during the fourth quarter. Mariner LLC now owns 221,808 shares of the company’s stock worth $113,236,000 after acquiring an additional 17,754 shares during the last quarter. Nicolet Advisory Services LLC lifted its position in Cummins by 1.6% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after acquiring an additional 17 shares during the last quarter. Finally, Focus Partners Wealth lifted its position in Cummins by 143.5% during the fourth quarter. Focus Partners Wealth now owns 145,894 shares of the company’s stock worth $74,472,000 after acquiring an additional 85,978 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMI. Morgan Stanley raised their price objective on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Citigroup raised their target price on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Truist Financial set a $815.00 target price on shares of Cummins in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $726.14.

Cummins Stock Up 0.0%

Shares of CMI opened at $659.77 on Monday. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08. The firm’s 50 day moving average is $648.43 and its 200-day moving average is $583.95. The stock has a market capitalization of $91.04 billion, a PE ratio of 34.24, a P/E/G ratio of 1.61 and a beta of 1.24. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm earned $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is 41.52%.

Insiders Place Their Bets

In related news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the transaction, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the completion of the transaction, the vice president directly owned 8,316 shares in the company, valued at $5,912,010.72. This trade represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,579 shares of company stock valued at $9,377,684 over the last three months. 0.30% of the stock is owned by corporate insiders.

About Cummins

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.