YHB Investment Advisors Inc. Increases Position in Cummins Inc. $CMI

YHB Investment Advisors Inc. lifted its stake in shares of Cummins Inc. (NYSE:CMI) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,561 shares of the company’s stock after buying an additional 971 shares during the period. YHB Investment Advisors Inc.’s holdings in Cummins were worth $8,117,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Valmark Advisers Inc. increased its stake in shares of Cummins by 1.9% during the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after buying an additional 16 shares during the period. Guardian Partners Inc. raised its position in shares of Cummins by 1.0% in the 1st quarter. Guardian Partners Inc. now owns 1,584 shares of the company’s stock worth $852,000 after acquiring an additional 16 shares in the last quarter. Nicolet Advisory Services LLC lifted its stake 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 purchasing an additional 17 shares during the period. Uhlmann Price Securities LLC boosted its position in shares of Cummins by 2.4% during the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after purchasing an additional 17 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Cummins by 2.0% in the second quarter. Legacy Financial Advisors Inc. now owns 955 shares of the company’s stock worth $681,000 after purchasing an additional 19 shares during the period. 83.46% of the stock is owned by institutional investors.

Insider Activity at Cummins

In related news, VP Earl Newsome sold 698 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Cummins Stock Performance

CMI traded up $2.42 during midday trading on Thursday, hitting $519.74. 588,160 shares of the company traded hands, compared to its average volume of 983,600. The company’s 50-day moving average is $572.00 and its 200 day moving average is $621.07. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $71.55 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. Cummins Inc. has a 52 week low of $400.72 and a 52 week high of $737.76.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. During the same quarter last year, the company earned $6.43 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 30.13 EPS for the current year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st were paid a $2.20 dividend. This is an increase from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, August 21st. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.7%. Cummins’s dividend payout ratio (DPR) is 44.97%.

Analysts Set New Price Targets

CMI has been the topic of a number of analyst reports. CICC Research initiated coverage on Cummins in a research report on Sunday, August 23rd. They issued an “outperform” rating and a $781.00 price target on the stock. Morgan Stanley boosted their target price on Cummins from $752.00 to $761.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup increased their target price on Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Evercore reduced their price target on Cummins from $845.00 to $782.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, UBS Group lowered their price target on Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $717.59.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.