Spartan Wealth Advisory Services LLC Invests $596,000 in Cummins Inc. $CMI

Spartan Wealth Advisory Services LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,108 shares of the company’s stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. Valmark Advisers Inc. boosted its holdings in Cummins by 1.9% in the 1st quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after purchasing an additional 16 shares during the period. Nicolet Advisory Services LLC increased its holdings in shares of Cummins by 1.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after purchasing an additional 17 shares during the period. Uhlmann Price Securities LLC increased its holdings in shares of Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after purchasing an additional 17 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after buying an additional 18 shares in the last quarter. Finally, Financial Consulate Inc. raised its position in shares of Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after buying an additional 18 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.1%

CMI opened at $647.67 on Monday. The stock has a market cap of $89.37 billion, a PE ratio of 33.61, a P/E/G ratio of 1.58 and a beta of 1.22. 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 Inc. has a 52 week low of $344.02 and a 52 week high of $737.76. The business’s fifty day simple moving average is $677.02 and its 200 day simple moving average is $614.96.

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 the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 29.34 earnings per share for the current fiscal year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is 41.52%.

Insider Buying and Selling

In other Cummins news, EVP Bonnie J. Fetch sold 652 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $700.19, for a total transaction of $456,523.88. Following the transaction, the executive vice president directly owned 11,679 shares in the company, valued at $8,177,519.01. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of Cummins 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 transaction, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Morgan Stanley boosted its price target on Cummins and kept an overweight rating, signaling confidence in further upside. Benzinga
• Neutral Sentiment: Zacks Research slightly raised its Q3 2027 EPS estimate for Cummins to $9.02 from $9.00, a small change that suggests stable longer-term expectations. Article
• Neutral Sentiment: Other Zacks revisions were mixed but generally small, with slight cuts to some FY2027/FY2028 estimates and a continued Hold rating, suggesting analysts are not seeing a major near-term change in fundamentals. Article

Wall Street Analyst Weigh In

Several research firms recently commented on CMI. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $740.07.

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.