Asset One Wealth Management LLC Buys Shares of 8,081 Cummins Inc. $CMI

Asset One Wealth Management LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,081 shares of the company’s stock, valued at approximately $4,125,000.

Several other institutional investors have also added to or reduced their stakes in CMI. Brighton Jones LLC boosted its stake in Cummins by 4.1% during 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 during the last quarter. Intech Investment Management LLC boosted its stake in Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Cummins by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC purchased a new stake in Cummins during the 2nd quarter valued at $225,000. Finally, Osterweis Capital Management Inc. purchased a new stake in Cummins during the 2nd quarter valued at $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CMI shares. Wells Fargo & Company increased their target price on Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Robert W. Baird set a $700.00 price target on Cummins in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $731.86.

Insider Buying and Selling

In other news, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the transaction, the vice president owned 11,986 shares in the company, valued at $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the transaction, the vice president owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,579 shares of company stock worth $9,377,684 in the last quarter. Company insiders own 0.30% of the company’s stock.

Cummins Price Performance

Shares of Cummins stock opened at $718.51 on Thursday. Cummins Inc. has a one year low of $307.90 and a one year high of $733.48. The stock’s fifty day moving average is $657.38 and its 200 day moving average is $588.25. The stock has a market cap of $99.15 billion, a P/E ratio of 37.29, a P/E/G ratio of 1.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

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

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

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.