1,252 Shares in Cummins Inc. $CMI Bought by RM Financial Services LLC

RM Financial Services LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,252 shares of the company’s stock, valued at approximately $639,000.

Several other large investors have also bought and sold shares of the stock. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter worth $26,000. Activest Wealth Management lifted its position in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in Cummins during the fourth quarter worth about $27,000. Ares Financial Consulting LLC purchased a new position in Cummins during the fourth quarter worth about $29,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins in the 2nd quarter worth about $31,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of CMI stock opened at $630.88 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm has a market cap of $87.05 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.64 and a beta of 1.23. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The firm’s 50-day simple moving average is $643.89 and its two-hundred day simple moving average is $581.43.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm earned $5.96 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is 41.52%.

Analysts Set New Price Targets

Several equities analysts have commented on CMI shares. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Citigroup upped their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price target on Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial set a $815.00 price target on Cummins in a report on Wednesday, May 6th. Finally, Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.14.

Insiders Place Their Bets

In other news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider owned 10,404 shares in the company, valued at approximately $7,165,755. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% 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.