Schwab Charitable Fund Has $10.66 Million Stock Position in Cummins Inc. (NYSE:CMI)


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Schwab Charitable Fund raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 49.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,123 shares of the company’s stock after purchasing an additional 13,676 shares during the period. Cummins accounts for approximately 1.1% of Schwab Charitable Fund’s holdings, making the stock its 18th biggest holding. Schwab Charitable Fund’s holdings in Cummins were worth $10,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Equitable Holdings Inc. lifted its holdings in Cummins by 3.7% in the fourth quarter. Equitable Holdings Inc. now owns 1,265 shares of the company’s stock valued at $287,000 after buying an additional 45 shares during the period. Absher Wealth Management LLC boosted its position in shares of Cummins by 0.7% in the 4th quarter. Absher Wealth Management LLC now owns 6,625 shares of the company’s stock worth $1,504,000 after purchasing an additional 48 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Cummins by 3.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,431 shares of the company’s stock worth $371,000 after purchasing an additional 48 shares during the period. BLB&B Advisors LLC lifted its stake in Cummins by 3.8% in the fourth quarter. BLB&B Advisors LLC now owns 1,373 shares of the company’s stock valued at $312,000 after buying an additional 50 shares during the period. Finally, Woodley Farra Manion Portfolio Management Inc. boosted its holdings in Cummins by 4.5% during the fourth quarter. Woodley Farra Manion Portfolio Management Inc. now owns 1,149 shares of the company’s stock worth $261,000 after buying an additional 50 shares during the last quarter. 81.07% of the stock is currently owned by institutional investors.

Shares of NYSE CMI traded up $0.68 during trading hours on Thursday, hitting $263.75. The company had a trading volume of 11,395 shares, compared to its average volume of 1,115,053. The stock has a market capitalization of $38.65 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.09. Cummins Inc. has a 1-year low of $143.32 and a 1-year high of $277.09. The firm’s 50 day moving average is $263.39 and its 200-day moving average is $239.35. The company has a quick ratio of 1.33, a current ratio of 1.94 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Wednesday, February 3rd. The company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.62. The company had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.18 billion. Cummins had a net margin of 8.12% and a return on equity of 20.30%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.56 EPS. On average, sell-side analysts predict that Cummins Inc. will post 11.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Stockholders of record on Friday, February 19th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 2.05%. Cummins’s dividend payout ratio is currently 35.88%.

In other news, VP Thaddeus B. Ewald sold 650 shares of Cummins stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $244.27, for a total transaction of $158,775.50. Following the sale, the vice president now directly owns 9,656 shares of the company’s stock, valued at $2,358,671.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Norman Thomas Linebarger sold 8,389 shares of the firm’s stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $245.10, for a total value of $2,056,143.90. Following the transaction, the chief executive officer now directly owns 99,927 shares of the company’s stock, valued at $24,492,107.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,498 shares of company stock valued at $2,816,552. Company insiders own 1.04% of the company’s stock.

A number of analysts recently weighed in on the stock. Cowen increased their price target on shares of Cummins from $239.00 to $243.00 and gave the company a “market perform” rating in a research report on Tuesday, February 9th. Jefferies Financial Group raised shares of Cummins from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $325.00 in a report on Wednesday, March 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Cummins from $265.00 to $315.00 in a research note on Tuesday, March 16th. Argus boosted their target price on Cummins from $246.00 to $281.00 and gave the company a “buy” rating in a research note on Thursday, February 11th. Finally, Vertical Research began coverage on Cummins in a report on Wednesday, January 20th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $235.71.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers 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; and offers new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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