Cummins Inc. (NYSE:CMI) Shares Acquired by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC boosted its position in Cummins Inc. (NYSE:CMI) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,788 shares of the company’s stock after buying an additional 485 shares during the quarter. Cummins accounts for approximately 1.9% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 22nd biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Cummins were worth $11,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. Brighton Jones LLC raised its position in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after purchasing an additional 83 shares in the last quarter. Stephens Inc. AR increased its holdings in Cummins by 9.1% in the fourth quarter. Stephens Inc. AR now owns 1,364 shares of the company’s stock valued at $475,000 after buying an additional 114 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in Cummins by 28.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,711 shares of the company’s stock valued at $1,991,000 after buying an additional 1,254 shares in the last quarter. Savant Capital LLC lifted its holdings in Cummins by 2.8% during the 4th quarter. Savant Capital LLC now owns 12,910 shares of the company’s stock worth $4,501,000 after buying an additional 349 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its holdings in Cummins by 7.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 666 shares of the company’s stock worth $232,000 after buying an additional 46 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John H. Stone bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was acquired at an average price of $332.08 per share, with a total value of $332,080.00. Following the completion of the purchase, the director now directly owns 2,441 shares of the company’s stock, valued at $810,607.28. This represents a 69.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Cummins Stock Performance

CMI opened at $323.84 on Thursday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90. The stock has a market cap of $44.61 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.04. The business’s 50 day moving average is $305.97 and its 200-day moving average is $337.67. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $1.04. The company had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.08 earnings per share. On average, analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 36.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Morgan Stanley lifted their price objective on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Citigroup boosted their target price on shares of Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Robert W. Baird reduced their price target on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group raised shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the company from $410.00 to $431.00 in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $357.25.

Cummins Company 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.