Barlow Wealth Partners Inc. Purchases Shares of 64,759 Cummins Inc. (NYSE:CMI)

Barlow Wealth Partners Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,759 shares of the company’s stock, valued at approximately $15,514,000. Cummins makes up 2.2% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 18th largest holding.

Several other large investors have also recently made changes to their positions in CMI. Stratos Wealth Partners LTD. raised its holdings in Cummins by 21.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,449 shares of the company’s stock valued at $331,000 after buying an additional 260 shares during the period. Verdence Capital Advisors LLC boosted its stake in shares of Cummins by 1.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,562 shares of the company’s stock worth $1,728,000 after purchasing an additional 106 shares during the period. Castleview Partners LLC grew its holdings in Cummins by 5.0% during the 3rd quarter. Castleview Partners LLC now owns 2,016 shares of the company’s stock valued at $461,000 after purchasing an additional 96 shares during the last quarter. IFM Investors Pty Ltd raised its position in Cummins by 4.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,060 shares of the company’s stock worth $6,639,000 after purchasing an additional 1,284 shares during the period. Finally, NBT Bank N A NY bought a new stake in Cummins in the third quarter worth about $263,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Up 0.7 %

NYSE CMI traded up $2.06 on Wednesday, hitting $288.97. The stock had a trading volume of 756,789 shares, compared to its average volume of 2,531,926. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The stock has a market cap of $39.53 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The business’s fifty day moving average price is $286.11 and its 200 day moving average price is $253.84.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a net margin of 5.70% and a return on equity of 25.38%. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 22nd. Cummins’s payout ratio is currently 49.19%.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the sale, the vice president now owns 17,874 shares of the company’s stock, valued at $4,685,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,169 shares of company stock worth $14,689,855. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMI. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $243.00 to $225.00 in a research note on Friday, January 19th. The Goldman Sachs Group boosted their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $282.55.

About Cummins

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.