Cummins Inc. $CMI Shares Bought by United Capital Management of KS Inc.

United Capital Management of KS Inc. raised its stake in Cummins Inc. (NYSE:CMI) by 129.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,638 shares of the company’s stock after buying an additional 1,489 shares during the quarter. United Capital Management of KS Inc.’s holdings in Cummins were worth $1,347,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Thompson Investment Management Inc. acquired a new position in Cummins in the fourth quarter valued at about $26,000. Activest Wealth Management lifted its position in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new position in Cummins in the fourth quarter valued at about $27,000. Ares Financial Consulting LLC acquired a new position in Cummins in the fourth quarter valued at about $29,000. Finally, Osterweis Capital Management Inc. acquired a new position in Cummins in the second quarter valued at about $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 0.6%

Shares of NYSE:CMI opened at $659.77 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The firm has a market capitalization of $91.04 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The firm’s 50-day moving average is $648.43 and its two-hundred day moving average is $583.26. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the firm earned $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s dividend payout ratio is presently 41.52%.

Insider Activity

In related news, VP Nathan R. Stoner sold 607 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $694.06, for a total transaction of $421,294.42. Following the sale, the vice president directly owned 9,447 shares in the company, valued at approximately $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CMI has been the topic of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research report on Monday, May 11th. Raymond James Financial boosted their price target on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Argus boosted their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Barclays boosted their price target on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.14.

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.