Cummins Inc. $CMI Shares Newly Acquired by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,017 shares of the company’s stock, valued at approximately $525,000.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Castle Rock Wealth Management LLC boosted its position in shares of Cummins by 199.2% in the third quarter. Castle Rock Wealth Management LLC now owns 1,789 shares of the company’s stock valued at $924,000 after acquiring an additional 1,191 shares during the period. Bullock Wealth Management Group raised its stake in Cummins by 9.3% during the 3rd quarter. Bullock Wealth Management Group now owns 728 shares of the company’s stock valued at $358,000 after purchasing an additional 62 shares during the last quarter. Riversedge Advisors LLC raised its stake in Cummins by 14.6% during the 3rd quarter. Riversedge Advisors LLC now owns 747 shares of the company’s stock valued at $386,000 after purchasing an additional 95 shares during the last quarter. Wedmont Private Capital boosted its holdings in Cummins by 789.4% in the 3rd quarter. Wedmont Private Capital now owns 15,760 shares of the company’s stock valued at $8,141,000 after purchasing an additional 13,988 shares during the period. Finally, Dakota Community Bank & Trust NA grew its position in Cummins by 69.4% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 310 shares of the company’s stock worth $160,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In related news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total value of $399,409.56. Following the sale, the vice president owned 4,479 shares of the company’s stock, valued at $2,562,973.38. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Cummins Price Performance

Shares of Cummins stock opened at $523.47 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The firm’s 50-day simple moving average is $567.50 and its 200-day simple moving average is $620.30. Cummins Inc. has a twelve month low of $400.72 and a twelve month high of $737.76. The firm has a market cap of $72.06 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $6.43 EPS. As a group, research analysts expect that Cummins Inc. will post 30.13 EPS for the current fiscal year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 21st. This is a boost from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is currently 44.97%.

Analysts Set New Price Targets

CMI has been the topic of several research reports. Bank of America dropped their price objective on shares of Cummins from $731.00 to $600.00 in a report on Thursday, September 24th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. CICC Research began coverage on Cummins in a research note on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price target on the stock. UBS Group reduced their price objective on Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Finally, Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.59.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.