Cummins Inc. $CMI Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 69.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,485 shares of the company’s stock after purchasing an additional 1,019 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Cummins were worth $1,284,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Childress Capital Advisors LLC grew its holdings in shares of Cummins by 52.0% during the third quarter. Childress Capital Advisors LLC now owns 994 shares of the company’s stock worth $513,000 after buying an additional 340 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Cummins by 4.7% in the third quarter. Motley Fool Asset Management LLC now owns 10,342 shares of the company’s stock worth $5,342,000 after buying an additional 464 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Cummins by 13.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,294 shares of the company’s stock worth $668,000 after buying an additional 155 shares in the last quarter. North Dakota State Investment Board lifted its stake in shares of Cummins by 3.4% in the third quarter. North Dakota State Investment Board now owns 4,230 shares of the company’s stock worth $2,185,000 after buying an additional 138 shares in the last quarter. Finally, VestGen Advisors LLC boosted its position in Cummins by 23.3% during the third quarter. VestGen Advisors LLC now owns 2,229 shares of the company’s stock worth $1,151,000 after acquiring an additional 421 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 3.3%

Shares of NYSE CMI opened at $500.75 on Friday. The firm has a market cap of $68.93 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.37 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 52-week low of $426.79 and a 52-week high of $737.76. The business’s 50 day moving average is $536.75 and its two-hundred day moving average is $602.02.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a return on equity of 25.29% and a net margin of 7.82%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. During the same quarter last year, the company earned $6.43 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that Cummins Inc. will post 29.98 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, November 20th. Cummins’s payout ratio is currently 44.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CMI shares. UBS Group lowered their price target on shares of Cummins from $835.00 to $741.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. CICC Research started coverage on shares of Cummins in a research report on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price objective for the company. Bank of America reduced their target price on shares of Cummins from $731.00 to $600.00 in a research note on Thursday, September 24th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $694.24.

Insider Transactions at Cummins

In related news, VP Earl Newsome sold 698 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the transaction, the vice president owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. This represents a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Cummins Profile

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins’ product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.