Titan Investment Solutions Ltd Takes $6.12 Million Position in Cummins Inc. $CMI

Titan Investment Solutions Ltd purchased a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, Holdings Channel reports. The fund purchased 11,998 shares of the company’s stock, valued at approximately $6,124,000.

Other hedge funds have also modified their holdings of the company. Thompson Investment Management Inc. acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $26,000. Activest Wealth Management lifted its holdings in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $27,000. Ares Financial Consulting LLC acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $29,000. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $32,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CMI shares. Robert W. Baird set a $700.00 price target on Cummins in a report on Wednesday, May 6th. Morgan Stanley raised their price objective on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research note on Monday, May 11th. Argus raised their price objective on Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, Truist Financial set a $815.00 price objective on Cummins in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.14.

Cummins Stock Performance

Cummins stock opened at $659.77 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The stock has a fifty day moving average of $648.43 and a two-hundred day moving average of $583.26. The company has a market capitalization of $91.04 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 1.60 and a beta of 1.23. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.Cummins’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.96 earnings per share. On average, analysts anticipate that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.2%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity at Cummins

In other Cummins news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the completion of the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marvin Boakye sold 3,481 shares of Cummins stock in a transaction on Friday, May 8th. The shares were sold at an average price of $679.90, for a total value of $2,366,731.90. Following the completion of the sale, the vice president directly owned 8,508 shares of the company’s stock, valued at approximately $5,784,589.20. This represents a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 in the last ninety days. 0.30% of the stock is owned by insiders.

About Cummins

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.