Cummins Inc. $CMI is Pring Turner Capital Group Inc.’s 4th Largest Position

Pring Turner Capital Group Inc. lowered its holdings in Cummins Inc. (NYSE:CMI) by 6.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,013 shares of the company’s stock after selling 1,061 shares during the quarter. Cummins comprises 4.1% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 4th biggest holding. Pring Turner Capital Group Inc.’s holdings in Cummins were worth $6,763,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in Cummins during the third quarter worth approximately $28,000. Salomon & Ludwin LLC grew its position in shares of Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the last quarter. Guerra Advisors Inc acquired a new stake in Cummins during the 3rd quarter worth $36,000. Tripletail Wealth Management LLC acquired a new position in Cummins in the third quarter valued at $39,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Cummins during the second quarter worth about $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of several research reports. Raymond James Financial boosted their target price on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $675.00 target price on shares of Cummins in a report on Friday, February 6th. Wells Fargo & Company increased their price target on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Eleven equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $588.93.

Cummins Price Performance

CMI stock opened at $600.30 on Tuesday. The company has a market cap of $82.94 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.90 and a beta of 1.13. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $551.85 and a 200-day moving average of $472.35. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $0.64. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.Cummins’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 earnings per share. As a group, equities analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

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

Insider Activity

In other Cummins news, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total value of $709,514.00. Following the sale, the insider owned 9,271 shares of the company’s stock, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Miller sold 18,107 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.41% of the company’s stock.

Cummins Company 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.