Stratos Wealth Partners LTD. Purchases 1,930 Shares of Cummins Inc. $CMI

Stratos Wealth Partners LTD. grew its position in shares of Cummins Inc. (NYSE:CMI) by 49.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,864 shares of the company’s stock after acquiring an additional 1,930 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cummins were worth $2,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CMI. Boston Partners bought a new stake in Cummins during the third quarter worth $473,471,000. London Co. of Virginia purchased a new position in shares of Cummins during the 3rd quarter valued at $231,732,000. Bank of New York Mellon Corp lifted its position in shares of Cummins by 50.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock valued at $612,715,000 after buying an additional 488,430 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Cummins by 103.8% during the 4th quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock worth $280,397,000 after purchasing an additional 278,350 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in Cummins in the 3rd quarter worth about $91,147,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of Cummins stock opened at $552.02 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $76.27 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The business’s 50-day moving average price is $567.03 and its 200-day moving average price is $511.99. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $5.16 EPS. Cummins’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on CMI shares. Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research note on Monday, January 26th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Wells Fargo & Company raised their target price on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Raymond James Financial raised their price target on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average target price of $588.93.

Insiders Place Their Bets

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Amy Rochelle Davis sold 4,054 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares of the company’s stock, valued at approximately $8,873,101.38. This trade represents a 20.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 31,195 shares of company stock worth $18,397,489. Insiders own 0.41% of the company’s stock.

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.