Wealth Enhancement Advisory Services LLC Has $28.49 Million Stock Position in Cummins Inc. $CMI

Wealth Enhancement Advisory Services LLC grew its holdings in Cummins Inc. (NYSE:CMI) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,065 shares of the company’s stock after purchasing an additional 905 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cummins were worth $28,491,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. NorthCrest Asset Manangement LLC lifted its holdings in shares of Cummins by 27.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,589 shares of the company’s stock worth $845,000 after acquiring an additional 342 shares during the last quarter. Old Port Advisors increased its position in Cummins by 284.7% during the 4th quarter. Old Port Advisors now owns 2,089 shares of the company’s stock worth $1,066,000 after purchasing an additional 1,546 shares in the last quarter. Signet Financial Management LLC bought a new position in Cummins in the 4th quarter valued at approximately $201,000. Nordea Investment Management AB boosted its position in Cummins by 103.8% in the fourth quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock valued at $280,397,000 after buying an additional 278,350 shares in the last quarter. Finally, Occidental Asset Management LLC increased its holdings in shares of Cummins by 1.5% during the fourth quarter. Occidental Asset Management LLC now owns 15,034 shares of the company’s stock worth $7,674,000 after buying an additional 228 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE CMI opened at $553.80 on Wednesday. The company has a market capitalization of $76.51 billion, a PE ratio of 26.99, a P/E/G ratio of 1.74 and a beta of 1.12. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98. The firm has a fifty day simple moving average of $573.30 and a 200 day simple moving average of $503.75.

Cummins (NYSE:CMI) last issued its quarterly 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. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the business posted $5.16 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.4%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Insider Buying and Selling

In related news, VP Donald G. Jackson sold 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the transaction, the vice president directly owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Earl Newsome sold 1,300 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. The trade was a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,195 shares of company stock worth $18,397,489 over the last ninety days. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of research reports. Sanford C. Bernstein set a $600.00 price objective on Cummins and gave the stock a “market perform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley reiterated an “overweight” rating and set a $675.00 target price on shares of Cummins in a research report on Friday, February 6th. Barclays upped their price target on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $588.93.

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.