1,851 Shares in Cummins Inc. $CMI Purchased by HORAN Wealth LLC

HORAN Wealth LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,851 shares of the company’s stock, valued at approximately $945,000.

Other hedge funds also recently added to or reduced their stakes in the company. Valmark Advisers Inc. lifted its holdings in shares of Cummins by 1.9% during the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after purchasing an additional 16 shares during the period. Nicolet Advisory Services LLC increased its stake in Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after buying an additional 17 shares during the period. Uhlmann Price Securities LLC increased its stake in Cummins by 2.4% in the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after buying an additional 17 shares during the period. Frank Rimerman Advisors LLC raised its position in Cummins by 0.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after buying an additional 18 shares during the last quarter. Finally, Financial Consulate Inc. lifted its stake in shares of Cummins by 16.8% in the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after acquiring an additional 18 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 1.3%

Cummins stock opened at $640.10 on Tuesday. Cummins Inc. has a fifty-two week low of $344.02 and a fifty-two week high of $737.76. The firm has a market capitalization of $88.33 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The stock’s fifty day moving average is $675.79 and its two-hundred day moving average is $615.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.96 EPS. Analysts predict that Cummins Inc. will post 29.34 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 21st. Cummins’s payout ratio is currently 45.67%.

Analyst Upgrades and Downgrades

CMI has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Cummins from $794.00 to $874.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Robert W. Baird set a $700.00 price objective on Cummins in a research report on Wednesday, May 6th. Argus boosted their target price on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Citigroup increased their price target on shares of Cummins from $770.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $740.07.

Insider Buying and Selling

In related news, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the transaction, the executive vice president directly owned 11,679 shares in the company, valued at $8,177,519.01. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the sale, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

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.