Tulsa Wealth Advisors INC Acquires New Stake in Cummins Inc. $CMI

Tulsa Wealth Advisors INC bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,916 shares of the company’s stock, valued at approximately $4,041,000. Cummins accounts for 1.3% of Tulsa Wealth Advisors INC’s investment portfolio, making the stock its 21st largest holding.

A number of other large investors have also recently added to or reduced their stakes in CMI. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the fourth quarter valued at about $26,000. Activest Wealth Management boosted 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 worth $26,000 after buying an additional 43 shares during the period. Wellington Shields Capital Management LLC bought a new position in shares of Cummins during the fourth quarter worth about $27,000. Birchwood Financial Partners Inc. bought a new position in shares of Cummins during the fourth quarter worth about $28,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Cummins in the 4th quarter valued at approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, 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 completion of the sale, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the completion of the sale, the chief accounting officer owned 14,084 shares of the company’s stock, valued at $9,652,328.56. This trade represents a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 13,579 shares of company stock worth $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMI. Robert W. Baird set a $700.00 price target on shares of Cummins in a research note on Wednesday, May 6th. Argus raised their target price on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $731.86.

Cummins Trading Down 0.1%

Shares of Cummins stock opened at $716.50 on Friday. The stock has a market cap of $98.87 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.75 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $737.76. The business’s 50 day moving average is $663.00 and its 200-day moving average is $590.68.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $5.96 earnings per share. Equities research analysts predict that Cummins Inc. will post 29.31 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. 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.