Capital Financial Planning LLC Invests $61,000 in Cummins Inc. (CMI) Stock

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Capital Financial Planning LLC bought a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, Holdings Channel reports. The fund bought 452 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Plimoth Trust Co. LLC grew its stake in Cummins by 0.9% during the fourth quarter. Plimoth Trust Co. LLC now owns 7,639 shares of the company’s stock worth $1,021,000 after buying an additional 70 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in Cummins by 1.7% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,578 shares of the company’s stock worth $612,000 after buying an additional 75 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Cummins by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock worth $680,000 after buying an additional 75 shares during the last quarter. Unison Advisors LLC lifted its position in shares of Cummins by 0.7% during the fourth quarter. Unison Advisors LLC now owns 10,570 shares of the company’s stock worth $1,412,000 after purchasing an additional 77 shares in the last quarter. Finally, Hudock Capital Group LLC lifted its position in shares of Cummins by 12.8% during the fourth quarter. Hudock Capital Group LLC now owns 698 shares of the company’s stock worth $92,000 after purchasing an additional 79 shares in the last quarter. 76.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Richard Joseph Freeland sold 4,500 shares of the stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $150.00, for a total value of $675,000.00. Following the transaction, the chief operating officer now directly owns 4,500 shares in the company, valued at $675,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexis M. Herman sold 423 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $150.12, for a total transaction of $63,500.76. The disclosure for this sale can be found here. Insiders sold 6,816 shares of company stock worth $1,039,321 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on CMI shares. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research report on Thursday, November 29th. Royal Bank of Canada reiterated a “hold” rating and set a $155.00 target price on shares of Cummins in a research report on Monday, December 24th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $168.00 target price on shares of Cummins in a research report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Cummins presently has an average rating of “Hold” and an average price target of $161.86.

Shares of CMI stock opened at $155.63 on Friday. Cummins Inc. has a 1 year low of $124.40 and a 1 year high of $172.08. The company has a market cap of $25.79 billion, a PE ratio of 10.40, a P/E/G ratio of 1.08 and a beta of 1.09. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.81 by ($0.33). Cummins had a net margin of 9.01% and a return on equity of 29.71%. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.08 billion. During the same quarter in the prior year, the company earned $3.03 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts predict that Cummins Inc. will post 15.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 22nd were issued a $1.14 dividend. The ex-dividend date was Thursday, February 21st. This represents a $4.56 annualized dividend and a yield of 2.93%. Cummins’s dividend payout ratio is currently 34.47%.

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About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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