Cummins Inc. $CMI Stock Holdings Boosted by Vise Technologies Inc.

Vise Technologies Inc. increased its stake in Cummins Inc. (NYSE:CMI) by 20.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,845 shares of the company’s stock after buying an additional 3,674 shares during the quarter. Vise Technologies Inc.’s holdings in Cummins were worth $11,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CMI. Cedar Mountain Advisors LLC raised its position in Cummins by 1,500.0% in the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 45 shares during the period. Persistent Asset Partners Ltd purchased a new position in Cummins in the 2nd quarter worth about $26,000. Balance Wealth Partners LLC purchased a new position in Cummins in the 3rd quarter worth about $32,000. Elevation Wealth Partners LLC lifted its holdings in Cummins by 91.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock valued at $33,000 after buying an additional 22 shares in the last quarter. Finally, Latitude Advisors LLC bought a new stake in Cummins during the 3rd quarter valued at about $39,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cummins

In other news, VP Earl Newsome sold 698 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the sale, the vice president directly owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Cummins Stock Up 0.1%

Shares of Cummins stock opened at $500.75 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The stock has a market cap of $68.94 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.32 and a beta of 1.24. The firm’s 50-day moving average is $536.75 and its two-hundred day moving average is $602.02. Cummins Inc. has a 1 year low of $426.79 and a 1 year high of $737.76.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $6.43 EPS. As a group, research analysts expect that Cummins Inc. will post 29.98 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be given a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, November 20th. Cummins’s dividend payout ratio is presently 44.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Cummins from $690.00 to $600.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Wells Fargo & Company reduced their target price on shares of Cummins from $760.00 to $608.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Wall Street Zen downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday. Evercore lowered their price target on Cummins from $845.00 to $782.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Cummins has an average rating of “Moderate Buy” and a consensus price target of $694.24.

About Cummins

Cummins Inc is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines and power systems for commercial vehicles, industrial equipment, mining, construction, agriculture, marine applications and other markets.

Cummins’ product portfolio includes diesel and natural gas engines, generators and other power-generation equipment, as well as fuel systems, filtration products, emissions-control systems, turbochargers and drivetrain components.