Centaurus Financial Inc. Acquires Shares of 600 Cummins Inc. (NYSE:CMI)

Centaurus Financial Inc. acquired a new stake in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 600 shares of the company’s stock, valued at approximately $144,000.

A number of other hedge funds have also recently modified their holdings of the business. Bison Wealth LLC boosted its holdings in shares of Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock valued at $293,000 after buying an additional 42 shares in the last quarter. KB Financial Partners LLC boosted its holdings in shares of Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock valued at $819,000 after buying an additional 45 shares in the last quarter. Edmp Inc. boosted its holdings in shares of Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock valued at $1,332,000 after buying an additional 46 shares in the last quarter. Ledge Wealth Management Inc. boosted its holdings in shares of Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after buying an additional 48 shares in the last quarter. Finally, Peloton Wealth Strategists boosted its holdings in shares of Cummins by 0.4% during the 3rd quarter. Peloton Wealth Strategists now owns 14,125 shares of the company’s stock valued at $3,227,000 after buying an additional 50 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of a number of research reports. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Robert W. Baird dropped their price target on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. The Goldman Sachs Group upped their price target on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cummins presently has an average rating of “Hold” and an average price target of $284.36.

Insider Activity

In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Marvin Boakye purchased 1,745 shares of Cummins stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $286.04 per share, with a total value of $499,139.80. Following the transaction, the vice president now directly owns 1,745 shares in the company, valued at $499,139.80. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

CMI opened at $273.79 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The stock has a market capitalization of $37.45 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.68 and a beta of 1.02. The company’s 50-day simple moving average is $284.32 and its two-hundred day simple moving average is $266.54. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $304.24.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. As a group, analysts predict that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Friday, May 24th were given a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s payout ratio is currently 49.19%.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.