Cummins Inc. $CMI Stock Position Raised by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 42.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,339 shares of the company’s stock after acquiring an additional 1,595 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Cummins were worth $2,455,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Cummins during the 2nd quarter valued at approximately $505,941,000. American Century Companies Inc. lifted its stake in Cummins by 138.8% in the second quarter. American Century Companies Inc. now owns 909,653 shares of the company’s stock valued at $297,912,000 after buying an additional 528,689 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Cummins by 50.8% during the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock valued at $612,715,000 after acquiring an additional 488,430 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of Cummins by 5,158.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 435,960 shares of the company’s stock worth $142,777,000 after acquiring an additional 427,670 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Cummins by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock worth $5,773,219,000 after acquiring an additional 344,680 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

Shares of CMI opened at $574.08 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The firm’s 50 day moving average is $569.66 and its 200-day moving average is $488.64. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98. The stock has a market capitalization of $79.32 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.77 and a beta of 1.12.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm 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 revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $5.16 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be paid 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 dividend yield of 1.4%. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Insiders Place Their Bets

In other news, VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the sale, the vice president directly owned 15,130 shares of the company’s stock, valued at $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares of the company’s stock, valued at $4,329,337.82. This trade represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,195 shares of company stock worth $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Wall Street Zen upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Barclays raised their target price on Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Argus set a $696.00 price target on Cummins in a research report on Tuesday, February 10th. Finally, Wells Fargo & Company increased their price target on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

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.