Stiles Financial Services Inc Buys 675 Shares of Cummins Inc. $CMI

Stiles Financial Services Inc increased its stake in Cummins Inc. (NYSE:CMI) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,519 shares of the company’s stock after buying an additional 675 shares during the period. Stiles Financial Services Inc’s holdings in Cummins were worth $1,809,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Olde Wealth Management LLC bought a new position in Cummins in the first quarter worth about $30,000. Accredited Wealth Management LLC bought a new position in Cummins in the first quarter worth about $31,000. Opal Wealth Advisors LLC bought a new position in Cummins in the first quarter worth about $37,000. Richardson Financial Services Inc. bought a new position in Cummins in the first quarter worth about $39,000. Finally, Costello Asset Management INC bought a new position in Cummins in the first quarter worth about $40,000. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CMI. Robert W. Baird lifted their target price on shares of Cummins from $315.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a report on Monday, August 11th. Evercore ISI reiterated an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 target price for the company in a report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a report on Saturday, September 27th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $397.43.

Cummins Stock Down 2.3%

Cummins stock opened at $426.20 on Friday. The firm has a market cap of $58.73 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.11 and a beta of 1.04. The stock has a fifty day simple moving average of $406.06 and a two-hundred day simple moving average of $348.80. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $440.51. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. The business had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.45 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.26 EPS. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, August 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from Cummins’s previous quarterly dividend of $1.82. Cummins’s dividend payout ratio (DPR) is presently 37.61%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Robert Enright sold 1,860 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $402.26, for a total transaction of $748,203.60. Following the completion of the sale, the vice president directly owned 955 shares in the company, valued at approximately $384,158.30. The trade was a 66.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Luther E. Peters sold 4,850 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $389.19, for a total transaction of $1,887,571.50. Following the sale, the vice president owned 7,693 shares of the company’s stock, valued at approximately $2,994,038.67. This represents a 38.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,119 shares of company stock worth $17,674,285. 0.41% of the stock is owned by corporate insiders.

Cummins Profile

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.