Midwest Professional Planners LTD. Boosts Holdings in Cummins Inc. $CMI

Midwest Professional Planners LTD. boosted its position in Cummins Inc. (NYSE:CMI) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,527 shares of the company’s stock after purchasing an additional 1,060 shares during the quarter. Cummins comprises 1.5% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 11th biggest position. Midwest Professional Planners LTD.’s holdings in Cummins were worth $6,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thompson Investment Management Inc. purchased a new stake in Cummins in the 4th quarter worth approximately $26,000. Activest Wealth Management raised its position in shares of Cummins by 537.5% during 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 in the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Cummins during the 4th quarter valued at $29,000. Holos Integrated Wealth LLC purchased a new stake in shares of Cummins during the 4th quarter valued at $32,000. Finally, Palouse Capital Management Inc. purchased a new stake in shares of Cummins during the 4th quarter valued at $33,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective on the stock. in a research report on Monday, January 26th. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Wells Fargo & Company raised their price objective on shares of Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group set a $565.00 price objective on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Robert W. Baird set a $700.00 price objective on shares of Cummins in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $677.87.

Insider Buying and Selling

In other Cummins news, VP Marvin Boakye sold 3,481 shares of the firm’s 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 sale, the vice president owned 8,508 shares of the company’s stock, valued at $5,784,589.20. This trade represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president directly owned 7,214 shares in the company, valued at approximately $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. Insiders have sold 22,397 shares of company stock worth $14,465,833 over the last 90 days. Insiders own 0.30% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $658.67 on Wednesday. The stock has a market cap of $90.89 billion, a PE ratio of 34.18, a PEG ratio of 1.71 and a beta of 1.27. The company’s fifty day moving average is $606.31 and its 200 day moving average is $558.95. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.96 EPS. Research analysts anticipate that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

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.