Cummins Inc. $CMI Position Boosted by Clear Trail Advisors LLC

Clear Trail Advisors LLC increased its position in Cummins Inc. (NYSE:CMI) by 131.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,016 shares of the company’s stock after purchasing an additional 1,144 shares during the period. Clear Trail Advisors LLC’s holdings in Cummins were worth $1,085,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Brighton Jones LLC increased its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after acquiring an additional 83 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the period. Treasurer of the State of North Carolina increased its stake in Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC acquired a new stake in shares of Cummins during the second quarter worth $225,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Cummins during the second quarter worth $31,000. 83.46% of the stock is owned by institutional investors.

Insider Activity at Cummins

In related news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider directly owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marvin Boakye sold 3,481 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the completion of the sale, the vice president directly owned 8,508 shares of the company’s stock, valued at $5,784,589.20. The trade was a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by corporate insiders.

Cummins Price Performance

NYSE CMI opened at $724.23 on Tuesday. The company has a 50-day moving average price of $665.26 and a two-hundred day moving average price of $592.91. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $737.76. The stock has a market cap of $99.94 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 1.74 and a beta of 1.23. 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 released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 29.44 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s dividend payout ratio is presently 41.52%.

Analyst Ratings Changes

Several research analysts have recently commented on CMI shares. Barclays lifted their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Citigroup lifted their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Argus upped their target price on Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Morgan Stanley increased their price target on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $731.86.

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.