Aspiriant LLC Purchases New Holdings in Cummins Inc. (NYSE:CMI)

Aspiriant LLC acquired a new position in Cummins Inc. (NYSE:CMI) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 764 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. St. Johns Investment Management Company LLC lifted its stake in Cummins by 12.0% during the first quarter. St. Johns Investment Management Company LLC now owns 4,924 shares of the company’s stock worth $1,451,000 after purchasing an additional 528 shares during the period. GoalVest Advisory LLC acquired a new stake in Cummins in the 1st quarter valued at $754,000. Sovereign Financial Group Inc. bought a new stake in Cummins in the first quarter valued at $271,000. Brookstone Capital Management raised its stake in Cummins by 33.3% during the first quarter. Brookstone Capital Management now owns 2,232 shares of the company’s stock worth $658,000 after acquiring an additional 558 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in shares of Cummins by 1.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,993 shares of the company’s stock valued at $1,177,000 after acquiring an additional 55 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $254.00 to $321.00 in a research note on Friday, March 15th. Robert W. Baird dropped their price target on Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Citigroup assumed coverage on Cummins in a research note on Wednesday. They issued a “buy” rating and a $320.00 price objective on the stock. Truist Financial restated a “hold” rating and issued a $319.00 target price on shares of Cummins in a research note on Wednesday, May 15th. Finally, TD Cowen upped their price target 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cummins has a consensus rating of “Hold” and an average price target of $287.55.

Cummins Trading Down 0.5 %

Shares of NYSE CMI opened at $281.65 on Thursday. The company’s 50 day simple moving average is $282.93 and its 200 day simple moving average is $268.21. The firm has a market capitalization of $38.52 billion, a P/E ratio of 20.62, a P/E/G ratio of 1.76 and a beta of 1.02. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $304.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84.

Cummins (NYSE:CMI) last announced 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 company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.36 billion. On average, analysts predict that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Dividend Announcement

The company 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. The ex-dividend date was Thursday, May 23rd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.39%. Cummins’s dividend payout ratio is 49.19%.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 3,880 shares of the firm’s 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 sale, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cummins news, VP Jeffrey T. Wiltrout acquired 282 shares of the stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the acquisition, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $1,113,016.80. Following the completion of the transaction, 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 corporate insiders.

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.