1,252 Shares in Cummins Inc. $CMI Acquired by RM Financial Services LLC

RM Financial Services LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,252 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Thompson Investment Management Inc. acquired a new stake in shares of Cummins during the fourth quarter worth $26,000. Activest Wealth Management lifted its holdings 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 period. Wellington Shields Capital Management LLC acquired a new position in Cummins in the fourth quarter valued at $27,000. Ares Financial Consulting LLC bought a new stake in Cummins during the fourth quarter valued at $29,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Cummins during the 2nd quarter worth about $31,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CMI shares. Wells Fargo & Company boosted their price objective on Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Barclays boosted their price target on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial increased their price target on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $726.14.

Cummins Stock Performance

Shares of CMI opened at $630.88 on Thursday. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08. The company has a market cap of $87.05 billion, a PE ratio of 32.74, a P/E/G ratio of 1.64 and a beta of 1.23. The stock has a 50-day moving average of $643.89 and a 200-day moving average of $581.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

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

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is presently 41.52%.

Insider Buying and Selling

In related news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the sale, the chief accounting officer owned 14,084 shares of the company’s stock, valued at $9,652,328.56. This trade represents a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,579 shares of company stock worth $9,377,684 over the last quarter. Corporate insiders own 0.30% 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.