Tulsa Wealth Advisors INC Acquires Shares of 7,916 Cummins Inc. $CMI

Tulsa Wealth Advisors INC bought a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,916 shares of the company’s stock, valued at approximately $4,041,000. Cummins accounts for about 1.3% of Tulsa Wealth Advisors INC’s holdings, making the stock its 21st largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. acquired a new stake in Cummins in the fourth quarter worth about $26,000. Activest Wealth Management lifted its position in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Cummins during the 4th quarter valued at about $27,000. Birchwood Financial Partners Inc. acquired a new stake in shares of Cummins during the 4th quarter worth approximately $28,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Cummins during the fourth quarter worth approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.1%

Shares of NYSE CMI opened at $716.50 on Friday. The firm has a 50 day moving average price of $663.00 and a 200 day moving average price of $590.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The stock has a market cap of $98.87 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.75 and a beta of 1.23. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $737.76.

Cummins (NYSE:CMI) last announced 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. 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 analysts’ expectations of $8.37 billion. During the same period last year, the firm posted $5.96 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 29.31 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity

In other Cummins news, CAO Nicole Lamb-Hale sold 2,408 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $685.34, for a total value of $1,650,298.72. Following the completion of the transaction, the chief accounting officer directly owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. The trade was a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the sale, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Robert W. Baird set a $700.00 price objective on Cummins in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $731.86.

Cummins Company 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.