QV Investors Inc. Purchases 90 Shares of Cummins Inc. $CMI

QV Investors Inc. increased its position in Cummins Inc. (NYSE:CMI) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,305 shares of the company’s stock after purchasing an additional 90 shares during the period. QV Investors Inc.’s holdings in Cummins were worth $4,685,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new position in shares of Cummins in the 1st quarter worth about $30,000. Accredited Wealth Management LLC bought a new position in shares of Cummins in the 1st quarter worth about $31,000. Richardson Financial Services Inc. bought a new position in shares of Cummins in the 1st quarter worth about $39,000. Costello Asset Management INC bought a new position in shares of Cummins in the 1st quarter worth about $40,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Cummins in the 1st quarter worth about $41,000. 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 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 completion of the sale, the vice president directly owned 7,693 shares in the company, valued at approximately $2,994,038.67. The trade was a 38.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the vice president owned 955 shares of the company’s stock, valued at approximately $384,158.30. This represents a 66.07% 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 Trading Up 1.0%

NYSE CMI opened at $421.79 on Friday. 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 Inc. has a 12 month low of $260.02 and a 12 month high of $440.51. The stock has a market cap of $58.12 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.95 and a beta of 1.04. The stock’s fifty day moving average price is $412.77 and its 200-day moving average price is $357.84.

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

Cummins Announces Dividend

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

Analysts Set New Price Targets

CMI has been the subject of several research reports. Truist Financial increased their price target on shares of Cummins from $380.00 to $434.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Tuesday, October 14th. Barclays increased their target price on Cummins from $387.00 to $430.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Citigroup increased their target price on Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wells Fargo & Company raised Cummins to an “overweight” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $410.50.

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.