Cummins Inc. (NYSE:CMI) Shares Acquired by Copperwynd Financial LLC

Copperwynd Financial LLC boosted its position in Cummins Inc. (NYSE:CMI) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,904 shares of the company’s stock after purchasing an additional 121 shares during the period. Copperwynd Financial LLC’s holdings in Cummins were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins in the 2nd quarter valued at approximately $28,000. Cultivar Capital Inc. purchased a new position in Cummins in the second quarter worth $28,000. Lynx Investment Advisory acquired a new stake in Cummins in the second quarter valued at $29,000. LRI Investments LLC purchased a new stake in shares of Cummins during the 1st quarter worth $31,000. Finally, JNBA Financial Advisors grew its stake in shares of Cummins by 1,111.1% during the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.5 %

Cummins stock opened at $326.40 on Friday. The stock has a 50-day moving average price of $300.38 and a 200 day moving average price of $290.14. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $333.43. The stock has a market cap of $44.64 billion, a PE ratio of 23.89, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.18 earnings per share. Equities research analysts predict that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Cummins Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd were issued a dividend of $1.82 per share. This is a boost from Cummins’s previous quarterly dividend of $1.68. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $7.28 annualized dividend and a dividend yield of 2.23%. Cummins’s dividend payout ratio (DPR) is 53.29%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMI. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Barclays boosted their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Robert W. Baird raised their price objective on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Raymond James initiated coverage on Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Evercore ISI raised their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and an average target price of $299.55.

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

About Cummins

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.