Cummins Inc. $CMI Shares Bought by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. grew its stake in shares of Cummins Inc. (NYSE:CMI) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,666 shares of the company’s stock after purchasing an additional 231 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Cummins were worth $1,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CMI. Orca Wealth Management LLC lifted its position in Cummins by 0.6% in the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock worth $1,509,000 after purchasing an additional 28 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Cummins by 1.0% in the second quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock valued at $1,076,000 after buying an additional 31 shares in the last quarter. Bank of Jackson Hole Trust increased its holdings in shares of Cummins by 1.2% in the first quarter. Bank of Jackson Hole Trust now owns 2,829 shares of the company’s stock valued at $887,000 after buying an additional 33 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Cummins by 0.5% in the first quarter. Scotia Capital Inc. now owns 6,714 shares of the company’s stock valued at $2,104,000 after buying an additional 34 shares in the last quarter. Finally, Van Hulzen Asset Management LLC increased its holdings in shares of Cummins by 1.2% in the first quarter. Van Hulzen Asset Management LLC now owns 2,781 shares of the company’s stock valued at $872,000 after buying an additional 34 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Robert Enright sold 1,860 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $402.26, for a total transaction of $748,203.60. Following the transaction, the vice president owned 955 shares in the company, valued at $384,158.30. This trade represents a 66.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy Rochelle Davis sold 5,002 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the completion of the sale, the vice president directly owned 20,738 shares of the company’s stock, valued at $8,354,925.44. This represents a 19.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,119 shares of company stock worth $17,674,285 in the last ninety days. Insiders own 0.41% of the company’s stock.

Cummins Price Performance

Shares of CMI stock opened at $421.79 on Friday. The firm’s 50 day moving average price is $412.77 and its two-hundred day moving average price is $357.20. The stock has a market cap of $58.12 billion, a PE ratio of 19.83, a PEG ratio of 1.94 and a beta of 1.04. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $440.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the business posted $5.26 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.9%. Cummins’s payout ratio is currently 37.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $400.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Citigroup upped their price target on shares of Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Wolfe Research raised shares of Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. Finally, Barclays upped their price objective on shares of Cummins from $387.00 to $430.00 and gave the stock an “equal weight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $410.50.

Cummins Company 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.