Cummins Inc. (NYSE:CMI) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services increased its stake in shares of Cummins Inc. (NYSE:CMI) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,103 shares of the company’s stock after purchasing an additional 476 shares during the quarter. Strong Tower Advisory Services’ holdings in Cummins were worth $1,209,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bison Wealth LLC raised its holdings in Cummins by 3.6% during the fourth quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after purchasing an additional 42 shares during the last quarter. KB Financial Partners LLC boosted its position in shares of Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after buying an additional 45 shares in the last quarter. Edmp Inc. boosted its position in shares of Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after buying an additional 46 shares in the last quarter. Ledge Wealth Management Inc. grew its stake in Cummins by 0.5% in the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after acquiring an additional 48 shares during the last quarter. Finally, Peloton Wealth Strategists increased its holdings in 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 acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMI shares. The Goldman Sachs Group increased their price target on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a report on Monday, March 25th. Truist Financial reissued a “hold” rating and issued a $319.00 price target on shares of Cummins in a report on Wednesday, May 15th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and increased their price objective for the company from $254.00 to $321.00 in a research note on Friday, March 15th. Finally, TD Cowen lifted their price objective on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $284.36.

Cummins Trading Down 0.8 %

NYSE:CMI traded down $2.31 during trading hours on Tuesday, reaching $281.65. 38,769 shares of the company were exchanged, compared to its average volume of 2,110,919. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The firm has a market cap of $38.52 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.73 and a beta of 1.02. The stock has a 50 day simple moving average of $283.16 and a 200 day simple moving average of $267.84. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $304.24.

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

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were given a dividend of $1.68 per share. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. Cummins’s dividend payout ratio (DPR) is 49.19%.

Insiders Place Their Bets

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

Cummins Company 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.