Alpha Financial Partners LLC Takes $439,000 Position in Cummins Inc. $CMI

Alpha Financial Partners LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,039 shares of the company’s stock, valued at approximately $439,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $28,000. Salomon & Ludwin LLC raised its position in Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares during the last quarter. Guerra Advisors Inc purchased a new stake in shares of Cummins in the third quarter valued at about $36,000. Tripletail Wealth Management LLC acquired a new position in shares of Cummins during the third quarter worth about $39,000. Finally, Osterweis Capital Management Inc. purchased a new position in Cummins during the second quarter worth about $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $592.64 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $555.11 and its 200 day moving average price is $474.87. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.88 and a beta of 1.13.

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

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of analyst reports. Wolfe Research lowered Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective on the stock. in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Wells Fargo & Company increased their price objective on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Truist Financial restated a “buy” rating and set a $703.00 target price (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $588.93.

Insiders Place Their Bets

In other news, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction 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 sale, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the sale, the insider owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. This represents a 13.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.41% of the company’s stock.

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.