Cummins Inc. $CMI Shares Purchased by L & S Advisors Inc

L & S Advisors Inc raised its stake in shares of Cummins Inc. (NYSE:CMI) by 26.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,592 shares of the company’s stock after purchasing an additional 5,087 shares during the period. Cummins accounts for 1.0% of L & S Advisors Inc’s portfolio, making the stock its 28th largest position. L & S Advisors Inc’s holdings in Cummins were worth $10,387,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CMI. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins in the third quarter worth $28,000. Salomon & Ludwin LLC grew its position in Cummins by 1,333.3% in the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares in the last quarter. Guerra Advisors Inc acquired a new stake in shares of Cummins in the third quarter worth about $36,000. Tripletail Wealth Management LLC bought a new stake in Cummins during the third quarter worth approximately $39,000. Finally, Osterweis Capital Management Inc. acquired a new position in Cummins in the 2nd quarter valued at $31,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $592.64 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $555.11 and a 200 day simple moving average of $474.87. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The firm has a market cap of $81.88 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.88 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 EPS. Sell-side analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be issued a $2.00 dividend. The ex-dividend date is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.3%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Insider Activity

In related news, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the transaction, the insider directly owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William I. Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the sale, the director owned 34,243 shares in the company, valued at $20,446,495.30. This represents a 34.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of a number of research analyst reports. Raymond James Financial upped their price target on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Barclays raised their price target on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research note on Monday, January 26th. Finally, Citigroup raised their price objective on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.93.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.