Salvus Wealth Management LLC Purchases Shares of 1,111 Cummins Inc. $CMI

Salvus Wealth Management LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,111 shares of the company’s stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CMI. Flagship Wealth Advisors LLC bought a new position in shares of Cummins in the third quarter valued at $28,000. Osterweis Capital Management Inc. bought a new stake in Cummins during the second quarter worth $31,000. Holos Integrated Wealth LLC bought a new stake in Cummins during the fourth quarter worth $32,000. Guerra Advisors Inc acquired a new stake in Cummins in the third quarter valued at $36,000. Finally, Salomon & Ludwin LLC grew its position in shares of Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

CMI stock opened at $554.78 on Thursday. The stock has a market cap of $76.65 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.76 and a beta of 1.12. 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 company has a 50 day simple moving average of $573.09 and a 200 day simple moving average of $504.11. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $617.98.

Cummins (NYSE:CMI) last posted 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. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the previous year, the firm posted $5.16 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio is presently 38.99%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Citigroup lifted their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Barclays boosted their price target on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Robert W. Baird set a $580.00 price objective on Cummins in a research note on Friday, February 6th. Finally, Argus set a $696.00 target price on Cummins in a research note on Tuesday, February 10th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Cummins has a consensus 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 that occurred 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 completion of the transaction, the director owned 34,243 shares of the company’s stock, valued at $20,446,495.30. This represents a 34.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. Company insiders own 0.41% of the company’s stock.

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.