Drucker Wealth 3.0 LLC Acquires 1,931 Shares of Cummins Inc. $CMI

Drucker Wealth 3.0 LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 97.5% in the third quarter, Holdings Channel.com reports. The firm owned 3,911 shares of the company’s stock after acquiring an additional 1,931 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Cummins were worth $1,652,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC purchased a new stake in Cummins during the third quarter valued at about $28,000. Osterweis Capital Management Inc. purchased a new stake in Cummins during the 2nd quarter valued at about $31,000. Guerra Advisors Inc bought a new position in Cummins during the 3rd quarter worth approximately $36,000. Salomon & Ludwin LLC increased its stake in Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after purchasing an additional 80 shares during the period. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Activity

In related news, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $597.10, for a total value of $10,811,689.70. Following the transaction, the director directly owned 34,243 shares of the company’s stock, valued at approximately $20,446,495.30. This represents a 34.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMI shares. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. UBS Group set a $565.00 price objective on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Robert W. Baird set a $580.00 target price on Cummins in a report on Friday, February 6th. Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Barclays upped their price objective on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Cummins Price Performance

Shares of CMI opened at $595.31 on Wednesday. The stock has a market cap of $82.25 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The firm’s 50-day simple moving average is $553.76 and its two-hundred day simple moving average is $474.04.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.16 EPS. Analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s dividend payout ratio is 38.99%.

Cummins Profile

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.