600 Shares in Cummins Inc. (NYSE:CMI) Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. bought a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 600 shares of the company’s stock, valued at approximately $144,000.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMI shares. JPMorgan Chase & Co. upped their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. TD Cowen increased their price objective on shares of Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Robert W. Baird decreased their price objective on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Truist Financial reiterated a “hold” rating and set a $319.00 price objective on shares of Cummins in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $284.36.

Cummins Stock Up 1.4 %

Shares of NYSE CMI opened at $273.79 on Thursday. The firm has a market cap of $37.45 billion, a PE ratio of 20.04, a P/E/G ratio of 1.68 and a beta of 1.02. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $304.24. The company’s fifty day simple moving average is $284.32 and its 200 day simple moving average is $266.54. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57.

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

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Friday, May 24th were paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio (DPR) is 49.19%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Marvin Boakye acquired 1,745 shares of the company’s stock in a transaction 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 completion of the purchase, the vice president now owns 1,745 shares of the company’s stock, valued at $499,139.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Marvin Boakye bought 1,745 shares of the stock in a transaction dated Monday, May 20th. The stock was purchased at an average price of $286.04 per share, with a total value of $499,139.80. Following the acquisition, the vice president now owns 1,745 shares of the company’s stock, valued at $499,139.80. The disclosure for this purchase can be found here. 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.