Nebula Research & Development LLC Invests $3.01 Million in Cummins Inc. $CMI

Nebula Research & Development LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,198 shares of the company’s stock, valued at approximately $3,012,000.

Several other large investors also recently added to or reduced their stakes in CMI. Accredited Wealth Management LLC bought a new stake in shares of Cummins in the 1st quarter valued at approximately $31,000. Wealth Preservation Advisors LLC bought a new stake in Cummins in the first quarter worth $41,000. CNB Bank purchased a new position in Cummins during the second quarter worth $43,000. Flaharty Asset Management LLC bought a new stake in shares of Cummins in the 1st quarter worth about $47,000. Finally, State of Wyoming purchased a new position in shares of Cummins during the 1st quarter worth about $50,000. 83.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMI. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Barclays raised their price target on Cummins from $430.00 to $515.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Evercore ISI reaffirmed an “outperform” rating on shares of Cummins in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cummins in a research report on Monday. Finally, Argus boosted their target price on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $479.53.

Cummins Stock Performance

CMI stock opened at $525.49 on Thursday. Cummins Inc. has a one year low of $260.02 and a one year high of $526.50. The firm has a market cap of $72.54 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.97 and a beta of 1.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. The firm has a 50-day simple moving average of $456.12 and a two-hundred day simple moving average of $397.66.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.83 by $0.76. The firm had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. Cummins’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.86 EPS. On average, equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, November 21st. Cummins’s dividend payout ratio is currently 41.52%.

Insider Buying and Selling at Cummins

In other Cummins news, CEO Jennifer Rumsey sold 4,570 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the sale, the chief executive officer owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. The trade was a 9.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 36,410 shares of company stock worth $16,424,574. 0.41% of the stock is owned by insiders.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.