Cummins Inc. $CMI Shares Bought by HBW Advisory Services LLC

HBW Advisory Services LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 253.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,650 shares of the company’s stock after acquiring an additional 1,183 shares during the quarter. HBW Advisory Services LLC’s holdings in Cummins were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its holdings in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of Cummins during the second quarter worth approximately $26,000. Key Financial Inc increased its holdings in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Cummins by 91.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 22 shares during the period. Finally, Steph & Co. increased its holdings in shares of Cummins by 112.9% in the 1st quarter. Steph & Co. now owns 66 shares of the company’s stock valued at $36,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the transaction, the vice president directly owned 4,479 shares of the company’s stock, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CMI shares. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Sanford C. Bernstein restated a “market perform” rating and issued a $700.00 price objective on shares of Cummins in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. Bank of America reduced their target price on shares of Cummins from $731.00 to $600.00 in a report on Thursday, September 24th. Finally, Truist Financial decreased their target price on shares of Cummins from $894.00 to $779.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $708.18.

Cummins Trading Up 1.2%

Shares of CMI stock opened at $532.04 on Friday. The company has a market capitalization of $73.24 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $558.13 and its two-hundred day moving average is $620.48. Cummins Inc. has a twelve month low of $405.82 and a twelve month high of $737.76.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same period in the previous year, the firm posted $6.43 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post 30.10 EPS for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, November 20th. Cummins’s dividend payout ratio (DPR) is 44.97%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.