KilterHowling LLC Acquires Shares of 1,366 Cummins Inc. $CMI

KilterHowling LLC bought a new position in shares of Cummins Inc. (NYSE:CMI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,366 shares of the company’s stock, valued at approximately $974,000. Cummins comprises approximately 0.4% of KilterHowling LLC’s investment portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Cummins during the 2nd quarter valued at approximately $26,000. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins during the fourth quarter worth $27,000. Finally, Key Financial Inc lifted its stake in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CMI shares. JPMorgan Chase & Co. boosted their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Citigroup increased their target price on Cummins from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Barclays boosted their price target on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research note on Monday, May 11th. Finally, Truist Financial set a $894.00 price objective on shares of Cummins in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $745.64.

Cummins Stock Performance

NYSE CMI opened at $593.12 on Friday. The company has a market capitalization of $81.65 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.45 and a beta of 1.24. Cummins Inc. has a twelve month low of $389.52 and a twelve month high of $737.76. The stock has a fifty day simple moving average of $662.30 and a 200 day simple moving average of $628.59. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.43 earnings per share. Sell-side analysts expect that Cummins Inc. will post 30.06 EPS for the current year.

Cummins Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a $2.20 dividend. This is an increase from Cummins’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Cummins’s payout ratio is presently 40.88%.

Cummins Profile

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.