Friedenthal Financial Purchases Shares of 2,001 Cummins Inc. $CMI

Friedenthal Financial acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,001 shares of the company’s stock, valued at approximately $1,077,000.

Other institutional investors have also modified their holdings of the company. Nicolet Advisory Services LLC boosted its holdings in shares of Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after buying an additional 17 shares in the last quarter. Uhlmann Price Securities LLC raised its stake in Cummins by 2.4% during the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after acquiring an additional 17 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after acquiring an additional 18 shares during the last quarter. Financial Consulate Inc. lifted its position in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after acquiring an additional 18 shares during the last quarter. Finally, ICW Investment Advisors LLC boosted its stake in Cummins by 2.6% in the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock valued at $369,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Truist Financial set a $815.00 price objective on Cummins in a report on Wednesday, May 6th. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. Robert W. Baird set a $700.00 price target on Cummins in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and a consensus price target of $731.86.

Cummins Price Performance

Shares of NYSE:CMI opened at $694.12 on Thursday. The company has a 50-day simple moving average of $668.44 and a 200-day simple moving average of $595.56. Cummins Inc. has a one year low of $317.74 and a one year high of $737.76. 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 capitalization of $95.78 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 1.71 and a beta of 1.23.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the company posted $5.96 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 29.31 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Insider Activity at Cummins

In other Cummins news, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the transaction, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,579 shares of company stock worth $9,377,684 in the last ninety days. Company insiders own 0.30% of the company’s stock.

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.